'We are aware that SIGA has confirmed the accounting treatment for the revenue recognition of Arestvyr with more than one large U.S. accounting firm, and with revenue recognition experts at these organizations, and does not expect to recognize revenue (and therefore will contine to show a loss) until receipt of FDA approval....As a result of the liklihood that FDA approval for Arestvyr will not be obtained until 2015 timeframe (by our estimate), it would appear that PIP's access to cash from their share of the profits of Arestvyr may be some distant time in the future. Reiterate out OUTPERFORM rating and our 12-month target of $7.50/share (under the existing profit sharing scenario)."
My suggestion is to tune out the NWJ twins. No one in their right mind could have predicted: that Chimerix would manage to 1) get rid of the BARDA option for 12 million courses and then 2) create a media blitz via the LA TImes that triggered a Congressional investigation. And rather few people would have managed to imagine the fictional remedy proposed by Judge Parsons. So if Greg Wade figured that SIGA was worth $24, it can be again if just two things happen: SIGA wins the PIP case and BARDA puts out an RFP for more courses of st-246. I would say that these two events are far less far-fetched than what actually happened to SIGA. And most of you would agree with me.
"Reiterate out OUTPERFORM rating and our 12-month target of $7.50/share (under the existing profit sharing scenario)." Likely BooKoo$ more if the existing profit sharing scenario,,,goes away,,,jmo,,,gallen