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PharmAthene, Inc. Message Board

  • pensivipop pensivipop Jul 24, 2013 1:58 PM Flag

    I intended to wait but---

    I wasn't in any hurry to jump in here but when I read that SIGA has to have their papers filed by the end of July I thought the better part of valor would be to buy now in case SIGA had a last minute awakening and threw in the towel to avoid further legal expenses later on. Got 4000 at 1.75 and now will watch proceedings as the two parties wind down their legal arguments. Good luck to all.

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    • Perelman in the majority owner of Siga. He does use the court system to wage war. He also settles when it's strategic to do so, as it is becoming more so daily with Pharmathene. See Revlon:

      Revlon Inc. (REV) officials agreed to pay more than $9.2 million to resolve investors’ claims that Ronald Perelman, the controlling shareholder, shortchanged them in a deal designed to acquire common stock he didn’t already own.
      Revlon, maker of Almay cosmetics and Mitchum deodorant, will pay the money to resolve eight lawsuits filed by company investors in state and federal courts in Delaware and New York over a 2009 share-exchange offer involving Class A common shares. Shareholders said Perelman sought to acquire the shares at an unfair price.
      The cosmetic maker’s executives agreed to the accord to “eliminate the burden and expense of further litigation and to put the settled claims to be released hereby to rest finally and forever,” Revlon’s lawyers said in a filing today in Delaware Chancery Court in Wilmington.


      Ecpecting to hear of some lawsuits from the Siga Shareholders if things continue to get dragged out in court.

    • Your right on this....Siga would be foolish not to surrender due to high cost to fight it any further. I truly think PIP will win this.....they did nothing wrong so it's in the courts best interest to award PIP their justice....

      Sentiment: Strong Buy

      • 1 Reply to jravera
      • Well, I try to understand the thinking of both sides (not the posters here since we have a bias) but rather the rational minds behind all this. SIGA must know the odds are stacked against them and yet they pursue this in the courts. Okay, but why can't adult CEO's sit behind a curtain and speak openly and frankly about what is happening. If I was SIGA and realized my predicament I would offer PIP a proposition--Will you PIP take only half of what you are asking for and in return let us merge the two companies and you will be the sole surviving company. Just imagine our bargaining power with the government when we are the primary purveyors of the best products in the world in fighting chemical warfare. Just think of the money saved from all the cost cutting that would naturally flow from a merger.-----Those are the things that make me shake my head in disbelief at two stubborn CEOS who are not acting in the best interest of their shareholders.

    • You may want to settle in for the wait. If the Parsons decision is not to Siga's liking, plan for another appeal. Resolution of this legal debacle is nowhere near us. As far as ST246 goes, Siga + PIP are dead money for the foreseeable future.

      I don't know about PIP, but I would not be surprised to see BARDA funding for Siga's pipeline come in the near future.

      • 3 Replies to pieclam
      • I think you're both missing my point: Regarding ST246 Siga is DEADMONEY. The stock's only hope is a non-ST246 award from BARDA.
        fwdlook - I'm not sure why you're discussing BARDA expanding ST246. I was talking about Siga's pipeline, as in antivirals for Dengue, Lassa, etc.
        pensive - Ron Perelman does not capitulate. In my opinion he would rather see Siga close it's doors then give a cent to a company that made no real contribution to ST-246. Do you think he cares if the courts think Siga acted in bad faith? Ron Perelman capitulate, do you know who this guy is?

      • BARDA is not doing anything with new/expanded contract on ST246 until its clear whether Chimerix product is ready to advance to manufacturing for stockpile and/or existing contract for ST246 deliveries is about to be completed. The latter is nearly two years away, so I wouldn't hold my breath on action in the short term.

      • Pie, you missed my point. The reason I got in today was because of the POSSIBILITY that SIGA might capitulate at the end of the month. If not then I wait till Aug. 7 for our filing and then play it by ear although probably out.

1.37+0.04(+3.00%)Oct 2 4:00 PMEDT