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Astex Pharmaceuticals, Inc. Message Board

  • maximus06906 maximus06906 Nov 12, 2012 10:00 AM Flag

    Impairment Charge in 10-Q

    Here is the explaination on the $7.4M impairment charge in Q3. This does not sound like MP-470. Looks to me like one of the partners ceased one of the development programs. Wonder who?

    During the quarter ended September 30, 2012, one of our collaboration partners ceased development of three research and development projects, which resulted in the recording of an impairment charge of $7.4 million.

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    • Max,

      Here is what I got back from Tim today.

      Clarifications:


      The partnership collaboration are Multi-targeted. Each potential product has a valuation, but the targets are confidential and can not be detailed.


      MP470 has activity, but did not produce enough clinical benefit for us to take it forward. It is current being marketed to other companies.


      SGI-110 has an oral presentation at ASH. Data will be disclosed at the time of the presentation.

      Timothy Enns
      Astex Pharmaceuticals

      Sentiment: Strong Buy

    • Once again. The company with the current management has NEVER EVER brought a product to market. This is a development company which has never developed a product under the current leadership in over a decade.
      As far as the power point slides and the “pretty graphs” are concerned; they are just that “pretty graphs” and power point slides. We have no clue how accurately they reflect the progress of the compounds, if at all. Should we get an approval on anything at all in the pipeline all the other issues will go away, this is something which has us longs worried about.
      Unless and until we get an approved compound NADA.
      All else are nonsense side issues.

    • Max,

      Did you open a cup of worms? Could this be the writeoff of GSK that Supg had under their belt?

      Sentiment: Hold

    • I wonder which partner walked? I wrote Tim about this. Three research and development projects. I ask tim if we are seeing another CLIMB in the making.

      Sentiment: Hold

      • 1 Reply to kyjellie
      • Good luck asking. I have asked twice already. Maybe we get a clue this Wed at the presentation. I am getting beyond frustrated with this stock. Love how they bury this crap in a 10-Q hoping people do not notice. Where is the PR on this? I would say that $7.4M is a material amount.

        Please not comments from the peanut gallery unless you have something of substance to add. We know the story of high bonuses, Man@#$# is an idiot blah blah blah....

 
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