We should see a filing of the NOL sometime by years end or better yet ...results from previous filings...hang in there payday is soon to come...bigger than the .15 buyout....tick tick tick
Shell buyers planning a reverse merger often let the shell sit for a long time. It's normally their intention to shake out the old shareholders so they don't get a free ride after a reverse merger. They know that there will be lots of tax loss selling. They also want to insure that there are no new 5% holders or a change of control which would nullify their tax loss carryforward. So, this is a long-term hold, but from what I see, a pretty clean shell. As far as I can see, the litigation is behind us.
If so, why don't more people buy down here and when would this reverse merger most likely take place?
Tax loss carryrforward is worth several hundred million. After the tax loss selling is flushed out, I would expect to see some type of reverse merger.
Anyone hear anything new about the settlement which was brought before the court on Dec. 10 and last day to file on Dec. 27? Been trying to find something out from the phone number provided but nothing new. Was wondering if a number of people opted out because they thought the amount was to low or the lawyers fees were to high. I seem to remember there was an insurance policy in place for about $10mil to deal with this and the settlement was for $6.5 million. Thanks in advance.
longfellowsss, do you know whether Affymax, Takeda, or both companies own the drug now? Thanks.
Last week I called both the Affymax and the xstelos numbers leaving contact info but as expected there's been no reply. When I called in December I was asked to put my questions in writing and they would answered. Apparently that was a lie.
Longfellowsss, a nice letter with great questions. I wonder if they respond and if the answers will be as thorough as the questions. Please post the response if/when you receive a reply. Thanks
There was mention of DNA testing in cooperation with Fresenius and the FDA last year. Did that happen and if so what were the results. Was there any attempt to use AE survivors’ DNA to narrow the search for a root cause?
With Takeda’s decision to abandon the drug and Affymax’s board pursuing liquidation did Fresenius have any interest in obtaining rights to peginesatide? Has the board of directors approached Fresenius towards that end?
Are there any ongoing investigations into Omontys? What is the status of the product liability lawsuits? Can we have the names of the law firms involved and the plaintiffs?
Has the board made the promised changes to prevent insider trading in accordance with the derivative action settlement? Will Affymax and shareholders benefit from the derivative action settlement as claimed by the plaintiff’s counsel or did they just lie to justify their fee to the court?
Did Mr. Couchman object to these settlements or file for exclusion from the classes?
Can we get some sort of report on just what efforts, contacts with prospects for mergers the Brenner Group made during their tenure.
Is there a reasonable explanation as to why no action was taken to remove the anti-takeover impediments which management has documented in all annual reports.
How many 5%+ shareholders are there?
Can you give us a condensed version of the tax benefit preservation plan. How long will it take to see any benefit and for how long it will last for current Affymax shareholders.
Is it true Mr. Couchman’s Xstelos experienced a reverse split followed immediately by a split. Should we expect a similar maneuver with Affymax shares?
Please describe the procedures and deadlines for nominating board members.
Thank you for your attention to these questions. I look forward to hearing from you soon.
December 19, 2014
Board of Directors
c/o Xstelos Holdings, Inc.
630 Fifth Avenue, Suite 2260
New York, NY 10020
Having read the article “Anaphylaxis and Hypotension after Administration of Peginesatide” in the NEJM, which I found to be very informative, I have some questions concerning how the expansion was handled and Fresenius’ decision to discontinue use of Omontys on Feb.22,2013. The article stated the manufacturer provided site specialists at the initiation of the pilot. Did Affymax and/or Takeda provide specialists at the expansion?
The article also stated Fresenius decided to discontinue use on Feb.22,2013. I have searched SEC and FDA filings and found no mention of Fresenius’ decision until reading this piece in NEJM. Can you tell me how, when and to whom was that decision communicated to at Affymax and/or Takeda? Is there a report on the evaluation of the pilot as was mentioned in the letter sent to Affymax on Feb.13,2013? If so, will it be made available through an SEC filing as was the Feb.14, 2013 SEC filing?
Additionally, did investigators from Takeda interview the Fresenius employees who attended those patients that experienced reactions to Omontys? How extensive was their investigation. Was it for the 3 patients who died of anaphylaxis or for all those with reactions? Were there any incidents where proper procedures were not followed?
This may be due to my lack of experience with the FDA FAERs database but I was unable to extract Epinephrine as a medication administered to Omontys patients. Were all patients given epinephrine at the onset of anaphylaxis? Where can I locate that information in the FAERs data? What proportion of the reports to the FDA were submitted by Affymax, Takeda and how many from Fresenius?
They're squerezing out the old holders gradually. The new owners must be spread out without any association as a group to preserve the NOL. I would expect this to be over 25 cents next month in anticipation of a reverse merger. It's clearly a very valuable shell.
Most of the old shareholders have already been shaken out by last year's tax loss selling. This enabled a cluster of strategic buyers to buy less than 5% each. They must be looking for a small, but profitable company to place inside the shell. Volume is not tepid.
AFFY is *nothing* besides a line of NOL on Couchman's taxes.
But that does not mean the valuation is low. It might ultimately be quite high. Let's watch. Thank you.