Where is all of this great news the pumpers promised by April 30th?
As far as I can recall, over the last month the longs have promised by April 30th, a Takeda buyout of Affymax, an Amgen buyout of Affymax, a decision by the FDA allowing Omontys back on the market with a Black Box warning label, a spike in the share price to a minimum of $5 per share, but also "in the teens" and "over $20 per share, and an epic short squeeze to rival that of the Volkswagen squeeze. When Affymax posted its March 18, 2013 8-K, one of my posts was for longs to be prepared to defend a $1 per share. When options were set to expire on April 20th and the stock was trading on April 17th at 92 cents a share, I advised longs to sell on April 20th since MMs would take the stock to at least a dollar. It is perplexing to me how much I am despised on this board when I give such correct advice.
Pumpers never promised any thing, it is you posting garbage 2 weeks back when the Website went down for Maintenance you foul mouthed saying the company is going BK.
No, BK is the last resort here and the Japanese corporate Culture is different than the American corporate culture, they will not allow themselves to stand in line in the court room or get exposed by the media. This is not the BK Play, it is about the DRUG, whether they can successfully bring the DRUG to the Market place or NOT Play! Rest are all garbage, you post non-sense all the time. No body cares when the news hits we all will take a call. It will not deter them spending another 100-200 MLN to take the complete ownership of AFFY, if that is what it comes to. Wait and Watch! No one cares about the PPS going up or down without any significant news.
I did go out on a limb and made a rash prediction of 'HALT' on a certain date. That did not come to pass but I will point out that nobody went on record before that date to argue against it. Whatever, that is past. I think it is foolish for people to think there is not an absolute possibility of 'HALT' when it's least expected. If people do not think this can happen then they are setting themselves up for a potential shock.
GWP - I have a serious question. Given your pessimistic view of LaffyStock (which I agree with) and your knowledge of BK and such, can you envision any possible scenario where it might make sense to speculate on LaffyStock? And at what price? I ask because I find myself now only following the board with the interest that one day it might get low enough to actually merit a risky investment. That would be going against my gut feeling. As for yourself, can you imagine ever closing your short position and taking some of the profit and going long on LaffyStock?
(BTW - you ask why you are so despised by longs when you have been so correct ..... the answer is in your question ..... it is human nature when we are on the wrong side and I'm sure we've all been there .....). Some lurkers may have taken your advice - you never know.
To me this is a bankruptcy play. I have little doubt that one day peginastide will come back to market. It will do so, however, after Affymax has either sold the Takeda milestone royalties deal as part of its Chapter 11 reorganization, or after Affymax has emerged from Chapter 11 reorganization still owning the Takeda milestone royalties deal. Should Affymax go the Chapter 11 reorganization routed, which makes perfect sense to me as a retired lawyer, then the current Affymax shareholders are likely to see, little, if any, benefit from the share price anytime soon.