This quote came off article on Google News:
"The auction starts June 13, 2013 and ends on June 14, 2013." This is for their 3 buildings and all scientific and other equipment.
So for ALL OF YOU DOOMERS AND GLOOMERS claiming BK is IMMINENT...Shareholder's meeting on June 6th...IF there was ANY CHANCE of AFFY declaring BK at that meeting they would NEVER have scheduled an auction of all their major physical assets a week later!!!!! That would be a BK Court action.
NOTE--You'd have to be living in the Amazon or Antarctica with ZERO communications to NOT KNOW that Affymax as an operating company is KAPUTT. No people, soon to be no equipment or real estate.
BUT-BUT-BUT...That's NEVER been the basis for the value of their stock. It's the BILLIONS OF DOLLARS locked up in Omontys, that is currently serving time in the penalty box UNTIL the VOLUNTARY RECALL IS DROPPED and OMONTYS goes back on the market under Takeda. The resolution of the cause of death of 5 people (out of 25,000) is top priority for Takeda and virtually ALL the evidence points to HUMAN ERROR at the Fresnius dialysis clinics (IDIOTS DIDN'T READ THE INSTRUCTION MANUAL AND CLEAR WARNINGS OF POTENTIAL ALLERGIC REACTIONS)...
The mechanics of restart and especially the VALUATION are currently the province of The Brenner Group and GS (valuation/mediation) as the rest of this story unfolds. AFFY now has a minute operating cost and sufficient funds to go the distance, but even if NOT Takeda has already made it clear that they'll pick up the tab of the investigation. Takeda has ZERO interest in letting/taking AFFY to BK. IT WOULD DELAY EVERYTHING EVEN FURTHER and could wind up with a result less than optimal for Takeda.
The day of resolution draws near, the options are being negotiated...BUT BK is NOT in the cards at all unless there is some bizarre medical cause of death finding that was NOT A HYPER-ALLERGIC reaction mishandled by Fresnius Dialysis personnel.
Nice Post! ELN - Elan when thru same situation years ago. Black box warning brought back to market, now they just collect Royalties, with 6 Billion dollar market cap.
Sentiment: Strong Buy
Guys, it is a #$%$ shoot and strikes my funny bone to hear both sides pretend to know the future. What is certain is things are going on behind the scenes in secrecy and that is where the little guy gets hammered. My thoughts are hope for the best and prepare for the worst!!!
At these prices it is a strong buy, it is like waiting for FDA approval of a potential Blockbuster.
only difference it is an approved drug with a voluntary recall. You have all the facts in front of you.
Single best thing ever happened to AFFY, is DRIVING OUT ALL AFFYs personal! Whether you like it or not, that is the BEST! BOD should have done this long long ago by providing this to Takeda at least after approval!
Sentiment: Strong Buy
max: very good analogy. It is either OMONTYS getting into the Market place or NOT. Nothing else matters here.
We need to wait patiently. You should stop answering to these morons gaycorner et al, they work for some hedge funds per post. I stopped responding to their non-sensical messages at this juncture. I'm not new to AFFY, I've been here 2-3 years ago and know it all.
There are risks here, but the rewards far outweigh the risks here. 99.98% for rewards and 0.02% risk, I'll go with the rewards side.
Sentiment: Strong Buy
I understand that an AFFY bankruptcy would delay any litigation filed against both AFFY and Takeda, and would also have the meritorious effect of shifting at least some liability away from Takeda onto the bankrupt AFFY. Except for litigation, how does an AFFY bankruptcy DELAY EVERYTHING EVEN FURTHER? What exactly is included in your reference to EVERYTHING? Please explain why an AFFY bankruptcy results in "less than optimal for Takeda"? How does the AFFY bankruptcy provide that less than optimal result for Takeda?
Max, you are living in a dream world. It is ludicrous to think that some nebulous entity such as 'The Company Formerly Known as AFFY' is going to somehow stick around and have the influence - or even slightest interest - in watching Takeda for years so that the dreamed-of phantom royalties are distributed to common shareholders.
You envision a fantasy world in which the LAFFY shareholders have washed their hands of everything and that all that is left is the royalty stream of payments. You ignore the reality that 1) It is highly, highly unlikely that there will ever be any royalties from Killer Drug O. 2) If there ever are royalties it will be years from now. 3) There are numerous ways to simply change the royalty agreement such that common shareholders are screwed. 4) Most importantly, you imagine that this new nebulous entity can simply stick around (even if they wanted to) despite the massive legal issues and bills involved. Common shareholders want to pretend that none of these legal issues exist.
Oh yeah, I forgot to mention the 800 pound gorilla. The new, slimmed down, anorexic AFFY is BROKE. The liabilities exceed the assets (even including the money from the garage sale). Creditors are clamoring to get the money owed them from AFFY. This means common shareholders lose everything. It is not that complicated. Thank you.