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Affymax, Inc. (AFFY) Message Board

  • acricketeer acricketeer Feb 26, 2013 8:50 AM Flag

    I'm Sure They Have Product Liability Insurance

    as well as D & O insurance, so I don't see a raid on their little treasure chest. We will probably be in a holding pattern for the next six months until they analyze what happened. They still have a product license, but I doubt they will be able to convince the FDA to bring the drug back to the market without a safety roadmap in place. At some point, they'll decide to either go forward with a screening test for hypersensitivity, redo manufacturing (unlikely) or discontinue the product permanently. The real tipoff was the lack of a lawsuit from Amgen, who was waiting for Takeda to hang itself. They know this compound and all the manufacturing peaks better than anyone. At some point then, they will either return the remaining cash to shareholders through self-liquidation or reverse merge with a cash poor biotech company. It's a reasonable bet at these prices, IMHO.

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