Bashers talk AFFY Shareholders won't see the Benefit!
First they said, the product won't come back and now shareholders won't see the benefit.
First of all effective April 10th 2013, AFFY has become a shell company no staff. They should have close to 40 MLN in cash after settling everything except the Lease for their office space which is being negotiated.
As for as the lawsuits they need to file something however both Takeda/AFFY needs to defend themselves under identical fashion. Moreover the Insurance companies take their own course. It takes many years to settle.
What is at stake is, how the product is going to be reintroduced not just in US but worldwide.
Total market is in excess of 4-5 BLN. Takeda agreed for a 180 MLN payout as well as 15-20% royalty on sales. This is for the next 15 years.
Remember one of their main thesis was BK and we know the answer because now some of theme are looking for AFFY 1Q13. Why would a cie on the verge of BK pay all the debts and hire a restructuring cie for at least a year and setup a shareholder meeting in June? If you exclude the manufacturing contract AFFY should have around 40 million cash.They just finish a phase 3b and updated their ongoing Phase 2 which the final data collection is set for 12/13. Institutional l hold 30.5 Million shares or 83% of all outstanding. The irony is those Institutional who actively trade the share hold have 15.1 million which is almost equivalent with the number of shares shorted (15.8 million). They need to get back those shares by shacking the weak hands.I have no doubt that Omontys will be back and there is another milestone around the corner which is EMA opinion which will set the stage for approval in EU.Why would Takeda sign a new deal with the cie? Why Institutional holding is so high for a cie who is on the verge of filing a BK? Perhaps our science fiction (day traders aka pennies flipper) in board can answer those questions?