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Affymax, Inc. (AFFY) Message Board

  • noglory_n noglory_n Apr 7, 2013 8:57 PM Flag

    2 points to ponder

    1) the fda would have too much egg on their face to approve a bad drug. it's not the drug.
    2) if they were going to file bk, wouldn't trustee be obligated to recover the 10,000,000 loan repayment. you can't pick and choose who get's paid back in a bankruptcy.

    Sentiment: Buy

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    • You are totally wrong. The FDA can make mistakes. Approved drugs have been withdrawn. Phenphen is just one example. With respect to bankruptcy, paying off a first lien secured creditor when you are not insolvent is not a preferential transfer. In fact, it makes a Chapter 11 reorganization much easier and less costly because the first lien secured creditor class, the one class with the most clout, has been eliminated.

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