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It is rare that a single event turns us from bullish to bearish on a company in the span of 24 hours, but an 8-k filing from Akorn, Inc. (ticker: AKRX) yesterday did just that. On the morning of December 16, prior to the market open, AKRX issued the following press release :
LAKE FOREST, Ill., Dec. 16, 2019 (GLOBE NEWSWIRE) -- Akorn, Inc. (Nasdaq: AKRX), a leading specialty pharmaceutical company, today announced that Akorn and certain of its lenders have reached an agreement that extends the standstill period to February 7, 2020.