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Affymax, Inc. Message Board

  • shabamoon shabamoon Mar 19, 2013 2:54 PM Flag

    OPEN LETTER TO AFFYMAX MGMNT: You are a disgrace to the industry. ################################

    Today I added options for April, July, and November. With this I am now all in.

    Don't ask why but I believe in this drug and can't phantom why it is being massacred by the management. Whatever their motive the facts are facts. Over 25000 people used Omontys without a single Omontys related deaths before SOMETHING went wrong all in February resulting in 3 deaths.

    Again and again, and no matter what anyone says, the first 25000 tells me the drug is more than safe. Nobody knows yet what happened in February but even with that 3 deaths in such systemically ill population group is not considered high. Even if they allergic reactions were caused by O they are just that: ALLERGIC REACTIONS for which we have much remedies. It is not like other drugs (Viox, Phen-Fen, etc that caused major damage to aortic valve, etc). An allergic reaction can be reversed withing minutes with injections of Epinephrine and without any lasting consequence.

    What happened to those patients is not to be taken lightly but for gods sake that was only 3 deaths, an small number for 25000 patients usage, and even those 3 were all preventable if they were given Epinephrine on time.

    The panicky incompetent way this management is handled this matter is a disgrace.

    But I have no doubt there are more competent and knowledgeable individuals and companies out there and before you know it they will step in and take over Omontys, change the name and re-market it . I am so certain that I've decided to go all in.

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    • Shab you must understand that the entire reason these drug companies exist - and I mean the *entire* reason that they exist is to benefit the insiders. That is true at first for the people in the IPO. After the IPO cash out there is the the period of stock options and gravy train for executives (by way of shareholders bidding up price). Then there is the end game where it *only* matters what will benefit CEO and 'partner'. In this case, Takeda will get all assets, Affy stuck with all liabilities. CEO will get sweetheart golden parachute of approx. $2 million and will agree to terms so that Takeda will buy entire company for about $10 million. Dust will settle over a couple of years and O may make an appearance elsewhere under a different name.

      Fairness, responsibility, conscience, etc. mean nothing to these people. They have more lawyers and know all the tricks and they never, ever, ever go to jail.


    • Seems you are going all in with a pretty strong conviction about Omontys. I almost feel the same but can't afford to lose it all in case the crooks hatch another scheme to crush to share price further. But I agree that Omontys will eventually be back in the market but not under this incompetent management. I am already heavily invested and added some today but will not go all in. You shouldn't either although if things start looking different that you could make a killing.

    • Agreed.

      But I will buy puts starting tomorrow. At this point, Affymax seems like it will no longer be viable.

    • I think that management is not working on behalf of shareholder's interest and needs to be replaced NOW!!!!!

      Sentiment: Hold

    • I agree with you 100%. But the management is crooked. So don't go all in. Only leave some on the table. I can tell you this. Someone will go to jail for this and hopefully the company will survive. But what is going on here is simple planned devaluation by the management and I am sure they cashed out already with who ever they "partner" with to scheme this ugly scenario. They cheat their own employees of their stock options, and then they cheat investors out of their money by creating this massive exodus. An allergic reaction can be addressed by tests or by having a treatment such as epipenn near by the patient. Company never ever provided such explanation or even attempted to. It leaves you wondering, what is going on. Also, 0.2% negative reactions can also be put on disclaimer as a side effect. At least try to address it with no cost explanations and communicate with FDA and work with them to figure a satisfactory answer before announcing seeking for bankruptcy... it is immoral. Good thing is that so many lawyers are waiting to bring down the management, so if they do any monkey business ... bankruptcy may protect their personal assets, but wrong doing in manipulating information can be tried as white collar crime. So spread words everywhere, that this management team better get their act together, otherwise, I am sure the lawyers will find a way to get them convicted or investigated for white collar crime and then going after their personal assets.

    • well you got balls . brain i'm not sure, but balls yes

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