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Affymax, Inc. (AFFY) Message Board

  • maxdad01 maxdad01 Jun 5, 2013 10:28 AM Flag

    The issues/opportunities have NOTHING TO DO WITH DELISTING--Irrelevant!!!

    It should open on the OTC tomorrow morning (though I don't think it will have pre-market trading).

    1. Delisting has NOTHING to do with bankruptcy...has only to do with "shell company" regs, and if you hadn't figured out that Affy had become a shell company then you did ZERO HOMEWORK.
    2. AFFYMAX's assets (pens, paper, real estate, etc.) had nothing to do with the value of the company.
    3. ALL OF AFFY'S VALUE IS CONTAINED IN ITS RIGHTS/OWNERSHIP OF OMONTYS
    4. ALL OF AFFY'S FUTURE VALUE IS PREDICATED ON THE FORWARD VALUE OF OMONTYS and the Amended Agreement (from a few weeks back) between Takeda and Affymax...and in my opinion the AFFY BOD worked out a very solid deal with Takeda and there was no evidence that Takeda was trying to take advantage of AFFY's situation...Quite the contrary, their payouts (Milestones and Perpetual world-wide Royalties) were more than fair.
    5. Assuming Omontys is returned to market the major Milestone of $180 million from Takeda (to whatever AFFY becomes) is worth about $4.50 per share in current AFFY share denominations.
    6. The CONSTRUCTION and NEGOTIATION OF "THE DEAL" has been underway for many weeks and I am very confident that it will be revealed tomorrow at the shareholders' meeting.
    7. A "logical" note---There would be ZERO reason for there to be a shareholders' meeting to declare any form of insolvency...ALWAYS done in press release...and anyone who thinks there will NOT be a meeting is simply making it up.
    8. We should also hear (in all likelihood) the results of the INVESTIGATION tomorrow, which I personally believe is complete...2 of the 5 deaths had already been ruled non-related and the remaining 3 (out of 25000 without fatalities) will be dealt with in the investigation report. I am of the belief that these results will be benign but worst case a clear remedy (if at fault at all) will be specified and Omontys will be returned to the market.
    9. I believe (but do not know) that the EMA has already ruled (favorably).

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    • max: what do expect to hear or see today that indicates what 2moro may bring in the conference, and or do you expect a short squeeze today? thanks

    • I am not even convinced there will be a meeting. They have chickened out of other standard events already. Assuming there is a meeting, then it will ONLY be to give the allusion of shareholder approval (the votes are non-binding) for executive compensation, i.e. golden parachutes. That, along with SEC requirements, is the ONLY reason for the meeting. All else is wishful thinking/conning.

    • What a clown!

      No, we will not hear ANYTHING about any investigation. There is no investigation. They do not want the truth about the deaths to be known. What do you think, LAFFY were diligently conducting an investigation since March as they were being kicked out the door? C'mon man, what world do you live in?

      Same goes for 'negotiations'. You think they are in any position of strength to negotiate any sort of deal besides for mere pennies? Yeah, they are shutting down, delisting, no money for legal representation, no good standing with legal community, and they are going to somehow 'bring it on' and get some lucrative deal. Not a chance. Not a chance.

      MaxDad, I think you should keep throwing out your wild rumors and maybe one of them will stick to the wall. Your logic is absurd. You, more than anyone, know that big money is going to roll these guys. Who are you trying to kid? Or do you just miss 'The Game' so much that you can't help but conning people before the big deal goes down?

      • 1 Reply to thegreycorner
      • I'm so glad you KNOW THINGS WITH SUCH CERTITUDE. It must be nice to be 100% clairvoyant !!! The fact is YOU KNOW NOTHING because NOTHING has been released to know. I am hoping you're short big time and that your brazen opinions stated as FACTS do to you what you have so clearly wanted to do to others.

        There is NO OTHER REASON to have tomorrow's meeting than to clear up what has happened and what will happen. Do you think they would subject themselves to shareholders by saying "we don't know anything"....REALLY? Are you that big a moron or just have that big an ego? HUBRIS KILLS and tomorrow I predict you will suffer the horrible fate of your enormous HUBRIS !!!

    • Max, Nasdaq 90 Day Rule for De-listing, why didn't this apply to Affy, why did De-listing period get cut short and happen on the same day as Affy's pre scheduled Shareholder meeting, did Affy/Takeda request this? 90 days does not = June 6th???? Why would Affy not challenge the de-listing and not use the full 90 days? Just Curious?

      • 1 Reply to wildbill400
      • My best guess is that all is known and all will be presented tomorrow. When Nasdaq sent the delisting notice (you are correct 90 days is standard protocol, though I have seen 45 days in special circumstances BUT NEVER 6 DAYS...EVER). So, putting 2 and 2 together, I'm guessing that Affy and Takeda said we don't need to go any further, put the suspension date at 6-6 and Nasdaq agreed. I would think that had the doom and gloom scenario been at all present that Affymax WOULD HAVE ASKED for the full period to provide trading liquidity as they worked out any final disposition arrangements (Omontys rights, Net Operating Loss Carryforward value for purchase, etc.).

        So what I am suggesting is that the Shareholders Meeting and the delisting date are absolutely NOT a coincidence!!!

    • max thank you for posting this!

      Sentiment: Hold

    • 1. ORWIN wanted to join AMGN-RALYPSA
      2. Where is the 90 days Notice of Delisting from NASDAQ or SEC filling...?
      3. AFFY is Publicly traded shares and its NOT A PRIVATE PROPERTY of ORWIN / AMGN / AFFYBOARD / TAKEDA / or any other HEDGE....

    • CONTINUED...

      9. I personally believe that the EMA ruled favorably last Friday, but because of all that is taking place and is about to take place was asked to not release findings until after all the rest of these announcements and arrangements have been settled. So IF I'm right, Takeda also knows those results as well.
      10. All these become factors in the restoration of Omontys to market(s) and become the basis for whatever valuation and deal construction will be disclosed tomorrow.
      11. IT is possible that depending on when any announcement of #10 above is made (pre-market, during or after market) that IF the deal is already constructed and announced and approved by BOD, IF IT IS A DIRECT BUY OUT BY TAKEDA there will be no need for it to trade UNLESS there is a shareholder uprising because the deal price was too low.

      NOTE: I am NOT SAYING it will be a buyout, though that's the most probable outcome. My preference would be converting AFFY to a publicly traded Royalty Trust (worth much more over time).

      And I am NOT SAYING that it is 100% that they will announce Omontys return, although I personally believe that is by far the most probable outcome (98-99%). The ONLY way I believe this is not going to happen is if during the investigation they determined that the problems associated with the 3 remaining fatalities is beyond remedy...but even in that highly unlikely case, there are disclosure (BLACK BOX WARNINGS) that are provided by 100's of pharmas who have had fatalities of their own.

      PROGNOSIS...Wait until tomorrow. The risks, while there, are not likely to be the doom and gloom so many here have stated as if fact and quite likely to be extremely positive for Affymax shareholders.

      But y'all have to stay tuned for the last episode which doesn't air until some time tomorrow.

      Buenos Suertes ALL !!!

    • I agree with all the points in your posts. Each point is true up to its fullest extent. But I am not sure if tomorrow's meeting will give us ALL the good news us LONGS had been waiting for.

      Great summarized post though! Keep up the good work.

      • 1 Reply to stuff24pk
      • It is certainly possible that all the i's won't be completely dotted nor the t's completely crossed, but I do believe that they will. If not they will certainly be more than close enough to disclose to the shareholders the status of Omontys' return to market and the intentions of AFFY and Takeda moving forward. But history (of companies in general) would indicate that tomorrow will be definitive and Brenner is a top notch turnaround company and unlikely to produce anything less than professional.

    • Max: thank you

 
AFFY
0.28+0.03(+12.90%)Aug 26 3:59 PMEDT

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