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.
With all of the restrictions of section 382 relating to NOLs I forsee a sale of assets ie patent rights to an interested party for cash. That cash rec'd by affy will be offset by Nol's then distributed as a divedend to common s/h's of affy. then dissuolotion of affy company. Therefore Mr. coachmen is trying to sell paternt rights to highest bidder if there is one out there probably in the ESA space like Amgen or roach.
The ex dividend date for the $.05 dividend was December 24, 2014, which is the day after the dividend payment date. When the dividend is 25% or more of the price of the underlying stock, the ex dividend date is the day after the payment date. In this case if an investor purchased the stock on December 23, 2014, the investor received the dividend after the market closed and met the requirement of owning the stock on December 24, 2014.
I do not know of additional dividend distributions that may or may not be planned, but I will comment here that it is very interesting that the stock price has gone up, after the December dividend distribution.
If a company has a net operating loss, it can apply this tax relief in two ways: it can apply the net operating loss to its past tax payments and receive a tax credit; or it could apply the net operating loss to future income tax payments, reducing the need to make payments in future periods. The terms of the tax relief and how it can be applied varies by jurisdiction but usually the NOL can be applied to the past few years (two to three) and much more to the future (seven to 10) years.