I don't think the market is spooked. Relatively low volume. Typical end of year dumping to lock in losses for the year. Look for January rebound.
teebrane: I love your optimism, but wishing and hoping and projecting what congress "should" do is not getting the job done. I am very long and very strong in PIP, and, at this point, I am also very disappointed. Every word I wrote in my previous post is the Gospel truth as I see it. Take each line and tell me where I'm wrong. Speaking of "a gap-up news event", PIP won a multi-million dollar judgment against Siga, and what happened? First, the SEC suspends trading in both companies, and when trading resumes, PIP's share price fell and has continued to fall. Even at todays' prices, investors are not clamoring to buy even though Judge Parson's new decision on damages from Siga is on the short horizon. No stock is worth a penny more than another investor is willing to pay for it, and right now for PIP, that's about $1.95. Take away the wishing and hoping, and what congress should do. Then give me some hard cold facts on why I, or anyone else, should be optimistic.
The prosperity of both Siga and PIP depends almost exclusively on funding/contracts with BARDA. With the stalemate going on in Congress, BARDA funding is a huge issue. Neither PIP, nor Siga has done anything to provide value to their investors in the last several years. Most every investor in either company is losing their shirts, and would get completely out if they could without taking such a bath. No potential investor who has done his/her homework on these companies would risk their funds as things stand right now. Thus, I don't see any significant movement in the share price of either one short term. Sorry for the dour outlook, but it is what it is.
What a gig! Get gobs of money from taxpayers via Barda to develop a pipedream . . . er . . . uh . . . pipeline. Then sell gobs of stock to people who somehow think . . . er . . .uh . . .wish . . .hope. . .pray someone in the company will look out for investor interest, to no avail. What a gig!
Long-term sentiment disclosure: NOT A CHANCE IN HADES!
You said that like its a bad thing. . . you think lawyers are supposed to work for free?
The smart play would be for these two companies to merge, but it will never happen. They will never agree on the time of day much less anything else. RP can afford to lose his entire investment in SIGA, and he's stubborn enough to do it.
You can't read a lick can you? The Supremes directed Parsons to award expectancy damages, and that is in fact what he will do.
The answer lies in the LATS which specifically lays out what PIP was to pay and what PIP was to receive under the license agreement. IMO, PIP comes out better than the 50/50 split after the first $40 mil. PIP's expectancy under the contract found to exist by the Supremes was not a specific amount of money, but simply an exclusice license to sell ST-246 in accordance with the provisions of the LATS. By awarding PIP the exclusive license to sell, Parsons complies with the directive from the Supremes (to award expectancy damages), and also avoids any problems with speculative damages. Doing so IMO essentially makes his "new" judgment appeal proof, in that he would have complied with the directive from the Supremes verbatim.
Deferring income in accord with generally accepted accounting principles for tax purposes is one thing, but deferring in an attempt to get around a judgment of a court of competent jurisdiction is quite another altogether. Bad faith is what got SIGA into this situation to begin with. Neither Parsons, nor the Supremes will tread lightly on any other acts of bad faith. IMO
Feeling frisky are you Golong? Same can be said for SIGA investors. Whenever final verdict comes, the deferral of revenues will not mean squat to the Court. Anyone who thinks otherwise is practicing wishfull thinking.