Looking at Anacor Pharma (ANAC)

Buyer of 2,000 August 90 calls paid $6.20 earlier today with stock at $68.82. Pretty good size $1.2 million OTM bullish bet and large open interest remains in July 80 calls from buyers previously. The $3 billion biotech can easily be absorbed as M&A target. Has Kerydin for onychomycosis, which is launching well when compared to competitor Jublia. Also has AN2728 for atopic dermatitis with Phase III data in Q3:2015. Could be an interesting candidate depending on the data and would be complementary to the dermatology franchise. Brief note from Jefferies on May 4: