I just wanted to let you know that nothing has changed except that....per the Company/Affymax...most of the large creditor obligations have been paid off which should....tell you all something. The Company is committed to stay alive until we get a new Risk Mitigation Plan approved.
I suspect that the cash in the bank after the R/E lease payoff is $10MM minus $2.5MM....or $7.5MM so let's say $7,000,000 to be safe.
Also the burn rate is said to be very LOW. The ongoing expenses are:
2) legal and filing fees
3) Brenner Group retainer
I really don't see much more than $10,000 per month if that?
Divide this out by $7,000,000 in cash and you have a company with real staying power, IMO.
Please beware or short attacks in periods of NO news in this or any stock that you may be an investor. this is the nature of what shorts do to Create Fear.
Anyone in and holding should know that Takeda is in charge and they have $600MM in vested in this $1B drug and there is a $180MM royalty agreement in place so, as Affymax has shown in the filings, there is a lot at stake here for the shareholders and Takeda.....and they stand ready to work through the process as they have so successfully done already. A dissolution could have easily been done several months ago. Takeda wants to stay in control here and lead the way over Amgen in the dialysis market one day.
Also, I as well as many loyal followers are holding strong because the AE data is far too low to keep OMONTYS off the market. keep in mond that...the drug worked with the groups that I spoke to and it passed with the FDA's strictest trials. Harder than when EPO was passed in 1989 for commercial sale.
Will Takeda walk away from its investment of $600MM? I don't see that happening. Hypersensitivity is treatable by the properly trained staff. (Ie) EpiPen.
What OMONTYS needs is a Black Box label like VENOFER.
Remember: Actions speak VOLUMES over anything else during this quiet period.
Take Care, EXP
Sentiment: Strong Buy
This is important to understand followers and is NOT stressed enough.
The new AFFYMAX - TAKEDA amended agreement offers ongoing Royalties worldwide.... WORTH MILLIONS YEAR AFTER YEAR once OMONTYS is brought back on the market.
From the filings: Royalties are tiered in the range of 13% to 17% with respect to net sales in the U.S. AND in the range of 13% to 24% depending on the level of net sales by Takeda "WORLDWIDE OUTSIDE of the U.S."
Have a good day, EXP
Sentiment: Strong Buy