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Affymax, Inc. Message Board

  • godwinpeak godwinpeak Aug 16, 2013 9:15 AM Flag

    AFFY's litigation will prove to be the catalyst for TBG to file for AFFY BK (though not intended)

    I have warned AFFY longs repeatedly that one must take AFFY's litigation burden seriously. I have called it the Elephant in the Room, and AFFY's 10,000 lb Gorilla, noone (Maxdad or Expstktrader) wants to talk about. While AFFY already faces major litigation against it and its officers and expects products liability actions to be filed, it has (wisely I might add) disclosed that AFFY HAS NO RESERVES FOR LITIGATION. AFFY's pending, ruinous litigation necessarily precludes any buyout and maybe even toxic financing. AFFY's only asset is the Takeda milestone/royalties agreement, and successful litigants will need to look first to insurance coverage, if any and adequate, and then to the milestone/royalties agreement for recovery.

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