Google 'Heritage Global Partners' Go to their web site (useless yhoo won't let me post a link)
Scroll down the page and on the right hand side you'll see the Affymax Auction listing.
I really don't think OMONTYS is coming back.
Ok, wise guy longs, just make sure you read the following from the auction listing......COMPLETE CAMPUS CLOSURE!
Now go look at at Yahoo's profile for AFFY, look what the corporate address is. THE SAME ADDRESS AS THE AUCTION. They are shutting down. END OF STORY. Liabilities exceed assets. END OF STORY.
You deserve to broke, I DON'T CARE! Ride this thing to zero, but KNOW THAT YOU'VE BEEN WARNED!
I will come back an laugh at you when you don't have any money to pay for your sophomore year tuition.
Sentiment: Strong Sell
Hugeman. Don't be so dire. Listen to Jagan, Seytrader, Doyoulineneruda and their followers. All AFFY needs is an old oriental man with an abacus who will work for Ramen noodles. He will put all of the Takeda royalties into his sack, calculate what is due shareholders and give them large distributions. When the litigants come calling for payment, he will say one word "insurance" and then pretend he cannot understand English. It is the clever plan of the Honorable Orwin-san and the AFFY Board of Directors. The share price should be $20 soon.
No big deal say AFFY Longs. Didn't Elan auction off all of its medical/lab equipment, computer equipment, office furniture and everything else tangible it owned after Tsybari was recalled? What? Elan didn't do that? On my. Not to worry. Do not rethink your position. Stay till the bitter end which is coming. Wonder how Jagan will interpret this sign. I'll bet either Amgen or Takeda told AFFY to do this.
Wow. AFFY Longs are going to love this. Has got be the most bullish news for them ever. The cash from the auction will keep them going strong until Omontys is back on the market so doctors will stop prescribing Epogen and Aranesp. Fits right in the mind of AFFY Long logic together with skittles, circling rainbows, unicorns and fairy tails. If AFFY were going to seek Chapter 11 reorganization, there would be no need to liquidate assets outside of a Chapter 11 proceeding, right Longs?
Global Online Sale
Complete Closure: Global Online Auction on Behalf of Affymax Inc., a Peptide-Based Biopharmaceutical Drug Developer for the Treatment of Life-Threatening Conditions.
Start date: Jun 13, 2013 - 07:00 PDT
End date: Jun 14, 2013 - 10:00 PDT
I won't read much into these. Incidentally Amgen is also auctioning the same day as is Pfizer in few days after. There is no drug in the pipeline for Affymax so to keep these laboratory equipments means no sense if no research is going to happen. If anything its
1) an indication that BK is not an option
2) affy has no plans for any future RnD even if O is back
AFFYMAX being a SHELL company and in the process of restructuring, this sale is nothing but to get rid of intellectual properties and the office space not needed to generate CASH. Remember they will only be collecting Milestone payments and Royalties once OMONTYS is back in the market.
OMG, did someone sell on this news, Wow!.
They already wound down their operations what they need is a Clerk ($20/30 per hour- on a contractual basis) and 200 Sq.ft office space to keep one PC with Shareholder info and a printer to print Checks!
You don't need anything more than that. AFFY's only product is Omontys and entire operation is trfred to TAKEDA, with a specific Royalty payment on sales for WW sales.
You will have to sell everything besides couple of tables and chairs and 3-4 laptops/printers and PCs if needed.
Nothing else is needed here! Whatever is needed from Affy for OMONTY'S product relaunch TAKEDA might have already taken.
It looks Brenner group already negotiated the lease breakage for their office premises, that should be very positive.
Awesome find Huge!
I am going to try to pick up some coffee mug or something with 'Affymax' on it. I need to always keep in mind this textbook biotech company. If they are selling off Orwin-san's appointment calendar, I will definitely make a bid on that.