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Knight Receives Unanimous Support from Independent Analysts for Director Nominees, Current Strategy

  • Analysts, shareholders express overwhelming support for Knight’s clear, disciplined strategy for profitable growth; disapprove of Jakobsohn’s risky scheme and unqualified directors
  • Shareholders are encouraged to vote the BLUE Proxy in advance of the voting deadline of Friday, May 3, 2019 at 5:00 p.m. (EST)
  • Questions? Need help? Contact Kingsdale Advisors at 1-888-518-1552 or at

MONTREAL, April 10, 2019 (GLOBE NEWSWIRE) -- Knight Therapeutics Inc. (TSX: GUD) ("Knight"), a Canadian specialty pharmaceutical company, thanks a rapidly growing list of shareholders and the analyst community for overwhelming support ahead of the upcoming 2019 Annual Meeting of Shareholders on May 7, 2019.

All analysts who cover Knight have issued reports that have been supportive of Knight’s disciplined strategy for profitable growth while rejecting activist shareholder Meir Jakobsohn’s flawed and self-serving analysis and risky plan.

“Over the past several weeks, we have had the opportunity to speak with many of Knight’s shareholders and the support we have received has been nothing short of overwhelming,” said CEO Jonathan Ross Goodman. “Shareholders are telling us privately the same thing analysts are saying publicly: Jakobsohn’s attempt to take control of the company with unqualified nominees intent on making bets on early-stage pharmaceuticals with our money is just too risky.”

“While Mr. Jakobsohn has resorted to emotional rhetoric and innuendo in the absence of support, we encourage shareholders to review the independent views of Knight analysts that are based on a detailed review of the facts. The analysts’ support further affirms our belief that we have the right team in place with the right disciplined growth strategy that will build value for all shareholders.”


  • We see the activist plan as significantly risky with the stock having potentially a material negative reaction on the nomination of a new board. Knight has accumulated its large cash position, mainly to replicate the success of Paladin Labs, under the leadership of Jonathan Goodman and his team. A vote for Medison CEO’s board is a vote for the unknown in our view and we believe that Knight is already on the right path.

    GMP (April 9, 2019)
  • “GUD has almost $800 million in cash, which represents a juicy prize for Mr. Jakobsohn and his coterie, so we are not surprised that he is fighting hard to access it.

    Paradigm Capital (April 5, 2019)
  • “We would strongly encourage investors to closely evaluate [Mr. Jackobsohn’s] proposed slate, as at first pass we have identified a number of individuals with a history tied to companies in which investors have experienced substantial losses. This list includes but is not limited to Merus Labs, Critical Outcome Technologies, and Keryx Biopharma.”

    “[If Mr. Jakobsohn’s slate is elected, it] is highly likely that a substantial exit of key executives and employees would likely ensue, resulting in significant unknown operational risk.”

    “…[Medison] having control of a footprint in Canada associated with a large cash war chest would likely provide them with a seat at the table with a number of new clinical stage opportunities, since, as of 2017, Canada is a top 10 global pharmaceutical market, whereas Israel is not. Such leverage would likely open doors for Medison to not only in-license assets for Canada, but also in-license additional rights to Israel in parallel, or as a “kicker” to Canadian negotiations. However, such opportunities would require a material degree of risk capital, the downside from which would largely be borne by Knight stakeholders and their capital whereas the benefit would be disproportionally skewed to Medison and their stakeholders.

    Raymond James (April 4, 2019)


  • Knight is on the right path

    “Management’s track record of success is well recognized, including the fact that Paladin Labs had 19 consecutive years of record revenues and another streak is in progress at Knight. Combined, we see Knight as offering investors a compelling reward to risk profile.”

    GMP (April 9, 2019) 
  • “As proxy fight continues, we believe current management remains right stewards of Knight.

    GUD’s management —Mr. Goodman and team— have been consistently performing to our expectations during the two years we have been covering the company. GUD’s weak stock performance of late, we think, can be attributed to its disciplined approach to deploying cash—preferring to wait out the expensive sellers’ market that is Specialty Pharma today—and building its cash reserves so it can pounce when the market starts to ease, likely in 2020. Therefore, we reiterate our thesis on GUD: with its strong balance sheet and eye for good M&A deals, a strategy in which we see long-term value, we view GUD as a solid investment for investors…”

    Paradigm Capital (April 5, 2019)
  • “…we believe a vote for Knight’s recommended director nominees is in the best interests of stakeholders who invested in the strategy of building a profitable and sustainable specialty pharmaceutical company with limited downside risk.”

    Raymond James (April 4, 2019)


  • Knight is on the right path, patiently executing a strategy that Jonathan has proven works. At Paladin, Jonathan showed that a successful company in this industry can be steadily built by laying a solid foundation for sustainable profitable growth without having to take big unnecessary binary risks. In just five years, Knight has generated an impressive $219 million of net income, raised hundreds of millions of dollars at increasing valuations, made smart acquisitions, and have in-licensed a promising pipeline of innovative products.

  • Mr. Jakobsohn is a 7% shareholder who wants to take full control of Knight’s board to gain access to Knight’s cash reserves.  He’s doing it so that he can prop up Medison, his own private company in Israel that has experienced at least four consecutive years of decline in net income.
  • Mr. Jakobsohn’s nominees are not qualified to serve on Knight’s board of directors.  His nominees, handpicked to implement his risky plan, don’t have any experience starting and building credible pharmaceutical companies, as well as expertise in finance and Canadian capital markets. 
  • Knight’s current directors are independent, have a proven track record of success, and collectively have the right mix of experience in biotech, pharmaceuticals, research, and finance.  We have ensured we have fresh, independent perspectives while meeting our skill needs. If the board's recommendation to elect Nancy Harrison and Michael Tremblay is adopted, over 70% of the board will be composed of directors which have been appointed over the last four years.  This is a pace of refreshment that is appropriate to a board of our size.
  • Mr. Jakobsohn’s conflict of interest allegations against Jonathan are disingenuous; Jonathan’s interests are completely aligned with shareholders.  For Jonathan it is Knight first, a sentiment he has backed up with over $70 million of his own money, having participated in all five of Knight’s equity financings. Further illustrating Jonathan’s commitment to Knight, respect for shareholder views, and to eliminate even the mere suggestion a conflict could exist, Jonathan has entered into a blind voting trust agreement in respect to his passive investment in his family’s holding company.


Don’t risk your Knight investment on Jakobsohn’s risky scheme.

We encourage shareholders vote the BLUE Proxy or Voting Instruction Form (VIF) FOR the Knight board nominees who are aligned with their interests and the original vision of Knight.

The deadline to vote is Friday, May 3, 2019 at 5:00 p.m. (EST). Shareholders with questions regarding voting the BLUE Proxy or VIF should visit Knight’s website or contact Knight's strategic shareholder advisor and proxy solicitation agent, Kingsdale Advisors, who can be reached by toll-free telephone in North America at 1-888-518-1552, by collect call outside North America at 416-867-2272, or by email at


Knight has retained Kingsdale Advisors as its strategic shareholder and communications advisor, Davies Ward Phillips & Vineberg LLP as its legal advisor, and RBC Capital Markets as its financial advisor.

About Knight Therapeutics Inc. 

Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing and commercializing innovative pharmaceutical products for the Canadian and select international markets. Knight Therapeutics Inc.’s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company’s web site at or

Forward-Looking Statement

This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.'s Annual Report and in Knight Therapeutics Inc.'s Annual Information Form for the year ended December 31, 2018. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law. 


Investor Contact:
Knight Therapeutics Inc.
Samira Sakhia
President & Chief Financial Officer
T: 514-678-8930
F: 514-481-4116 

Media Contact:
Kingsdale Advisors
Ian Robertson
Executive Vice President, Communication Strategy
Direct: 416-867-2333
Cell: 647-621-2646