So i have been long both PIP and SIGA since Dec 2010... you can do the math, i'm down 75-82% on both. Before this I have never been hit so hard in a stock investment. The thing that baffles me is that CMRX is above $22 a share without a drug that doesn't have devastating and deadly side effects in its trials.
These stocks have only had good news since I purchased them and yet they have been shorted into oblivion... when are we going to be able to escape this mess? Here's to hoping that Parson's final decision separates these two for good.
Both parties would likely benefit from an early out of court settlement. Siga management, Ron Perelman and MacAndrews & Forbes have little upside if they prolong the legal proceedings:
* different legal standard when considering facts already adduced at trial
* as stated by Parsons:
...the parties would have consummated a license agreement for ST-246 on terms (((no less favorable))) to PharmAthene than a one-time $40 million payment by PharmAthene to SIGA in exchange for a pure 50/50 split on all net profits derived from ST-246 for a period of at least ten years.
Proof that billionaires don't drag out court cases for eternity?
Perelman’s MacAndrews & Forbes Holdings Inc. was ordered by a jury to pay $16 million to Perelman’s ex-lieutenant, Donald Drapkin, after jurors found the billionaire’s firm breached a separation agreement.