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PharmAthene, Inc. Message Board

cash2go 85 posts  |  Last Activity: Jan 28, 2015 1:42 AM Member since: Feb 8, 2006
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  • Reply to

    CMRX would be wise to buy out this legal mess

    by cash2go Jan 23, 2015 1:38 PM
    cash2go cash2go Jan 28, 2015 1:42 AM Flag

    Siga's Bad Faith was great legal advice had Chimerix not got in the way. A $200M slap on the wrist and Siga pockets a high margin $2 Billion plus contract.

  • Reply to

    CMRX would be wise to buy out this legal mess

    by cash2go Jan 23, 2015 1:38 PM
    cash2go cash2go Jan 28, 2015 1:33 AM Flag

    Back to the main point
    Sept 2006 saw the release of the news that the primates injected with a lethal dose of smallpox survived with minimal to no symptoms. That means the two animal trial requirement for Project BioShield purchase were impressively passed. Project Bioshield intended to purchase enough courses to defend a biotterror attack on a national scale.
    Siga management looked at what the Sept '06 primate trial meant in the expected Project Bioshield contract and chose Bad Faith.

  • Reply to

    CMRX would be wise to buy out this legal mess

    by cash2go Jan 23, 2015 1:38 PM
    cash2go cash2go Jan 27, 2015 1:56 PM Flag

    I'm focused on Sept '06 expectations.

  • Reply to

    CMRX would be wise to buy out this legal mess

    by cash2go Jan 23, 2015 1:38 PM
    cash2go cash2go Jan 26, 2015 1:05 AM Flag

    Speculative drug development??? How many billions are spent yearly on development and research by pharmaceutical companies as they "speculate" and because they have reasonable expectations they will get a return on that "speculation".

    Agree, nothing is guaranteed.

  • Reply to

    CMRX would be wise to buy out this legal mess

    by cash2go Jan 23, 2015 1:38 PM
    cash2go cash2go Jan 23, 2015 11:41 PM Flag

    June 27, 2011
    Chimerix and BARDA Reach Agreement Ending GAO Review of Smallpox Antiviral Contract

    - BARDA Deletes 12 Million Optional Courses from SIGA Sole Source Contract Allowing Opportunity for Competitive Procurement of a Second Smallpox Antiviral

    (expectations were high enough in Sept 2006 to go "bad faith" with ill intent)

  • Reply to

    CMRX would be wise to buy out this legal mess

    by cash2go Jan 23, 2015 1:38 PM
    cash2go cash2go Jan 23, 2015 11:33 PM Flag

    What was destined to be a $2B (have you forgotten 2011?) contract until CMRX cried foul play on some of the Siga's bad faith used in dealing with the government commitment.

    The expectations for 246 in Sept '06 were sky high. Then we had the path the Siga team took and look where everything is 8 years later. I'd have to call that a wake up call.

  • Reply to

    CMRX would be wise to buy out this legal mess

    by cash2go Jan 23, 2015 1:38 PM
    cash2go cash2go Jan 23, 2015 11:18 PM Flag

    Emergent BioSolutions to name one

  • cash2go cash2go Jan 23, 2015 1:53 PM Flag

    speculative? This is biotech and medicine you can't get around speculative. Anyone investing in biotech is looking to take as much speculation out of their investments as possible. In this case you have to admit Perelman has brought the worst of Wall Street into this particular investment.

    Are you a day tradder in this one? Day trading seems like a quick way to get rich. For me it just doesn't work. The longer term investments with good management seem key to me. Pharmathene management I'm not so sure about.

    GLTA

  • Perlman is fully aware of the studies on combination use of CMX100 & ST-246. Settle this case and he can sell the rights to ST-246 to CMRX. CMRX would then have the $2 B contract to itself. Now that Siga sees the PIP settlement is on the low end of what most expected it would be wise to work the books, pay off Pharmathene and reinstate the $60M in tax write-offs.
    Then Deal with Chimerix for another $150M to put in his pocket.

  • cash2go cash2go Jan 23, 2015 1:23 PM Flag

    Results released in Sept 2006, I'm guessing the trial concluded at least a couple of weeks before government release of data. Anyone following the trial likely felt this was this most important results in an approval process that would never see humans injected with smallpox

  • cash2go cash2go Jan 23, 2015 1:08 PM Flag

    How Speculative

    Centers for Disease Control and Prevention (CDC) [1]. The study challenged cynolmogus monkeys with high intravenous doses of variola virus, equivalent to the level present in late-stage disease in humans, according to Dr. Dennis Hruby, Chief Scientific Officer of SIGA. All animals that received the drug orally once a day were protected from developing clinical smallpox. The drug was effective whether administered at the same time as the virus challenge or 24 hours later, suggesting it may be useful for post exposure prophylaxis or treatment of smallpox. SIGA’s press release indicates that the drug “completely prevented lesion formation and reduced viral load to non-threatening levels in treated animals, with no obvious toxicity.

  • cash2go cash2go Jan 19, 2015 3:37 PM Flag

    How speculative?

    To heighten the nation’s biodefenses, the federal government has invested more than $60 billion since 2001, developing and distributing air sensors, educating doctors about the symptoms of bioterror pathogens and distributing medical supplies for biodefense to hospitals around the country. At the root of these efforts is a list of specific biological agents, known as “material threats,” that have been identified by the Department of Homeland Security as the most urgent pathogens to defend against. These include smallpox, anthrax, ebola, plague and a handful of lesser-known organisms.

    (samllpox was ranked the #2 threat to target with the bioterror funding that eventually lead to BARDA doing the actual contracting)
    I'm still shocked at the small figure Judge Parsons came up with as expectation damages. Guess I undervalued what big money and lawyering up can do.

  • cash2go cash2go Jan 19, 2015 1:49 PM Flag

    Siga looked at the value potential of over $2 B contract guaranteed with US government and "watering at the mouth" went bad faith. As time went by and Siga slowly progressed (Maybe a Pharmathene could have helped the path) it took 8 years to get deliveries to BARDA. Then Siga had the 2 B possible contract voided ( Yes, again Pharmathen may have helped Siga stay honest and keep the 2B contract. Now dosage is in question and because of price per "course" BARDA says it wants stockpile increased at Siga's expense. Luckily, Siga has said how cheap it is to manufacture and the drug was priced just to reflect cost of treatment in similar diseases. I'm sure BARDA loved hearing that.

    So much potential contract expectations in 2006. "Bad Faith Boys" ethics had no limits and BARDA...

    Shareholders in SIGA & PIP GLTA

  • cash2go cash2go Jan 19, 2015 1:35 PM Flag

    DSC guidance given to judge Parsons:
    Type Two agreement based on LATS that should be referred to when determining expectation damages.

  • Appeal?

    page 37

    Delaware Supreme Court said:

    the parties have a Type II preliminary agreement to negotiate in
    good faith, and the trial judge makes a factual finding, supported by the record, that
    the parties would have reached an agreement but for the defendant’s bad faith
    negotiations, the plaintiff is entitled to recover contract expectation damages Less

  • Reply to

    Why did Siga lawyer up and go "bad faith" in 2006

    by cash2go Jan 14, 2015 1:59 AM
    cash2go cash2go Jan 18, 2015 9:37 PM Flag

    Delaware Supreme Court said:

    the parties have a Type II preliminary agreement to negotiate in
    good faith

    * Lawyered up and now looking at $30,000 daily in interest penalty. Chapter 11? How much sympathy can they have for the "Bad Faith Boyz"?

  • Reply to

    SIGA has appealed

    by eurafrules Jan 16, 2015 4:33 PM
    cash2go cash2go Jan 16, 2015 5:22 PM Flag

    page 37

    Delaware Supreme Court said:

    the parties have a Type II preliminary agreement to negotiate in
    good faith, and the trial judge makes a factual finding, supported by the record, that
    the parties would have reached an agreement but for the defendant’s bad faith
    negotiations, the plaintiff is entitled to recover contract expectation damages

    * of course the best legal team money can buy is representing Siga (Perelman) and cluttered things up with Chapter 11 versus out of court settlement. It's just a matter of time. How long will it take when Siga is paying $30 thousand daily in interest charges? I'm guessing a (lot) less longer.

    Over a million shares traded hands today???? At least there is some interest in the traders section of the market trying to get rick in a day.

  • Reply to

    Why did Siga lawyer up and go "bad faith" in 2006

    by cash2go Jan 14, 2015 1:59 AM
    cash2go cash2go Jan 14, 2015 11:07 PM Flag

    Supreme Court said:
    "contract expectation damages"

    $190 million is well below what anyone expected from a successful order from BARDA for an actual smallpox antiviral. Anyone in the medical field following viral infections in 2006 were astonished when the primate results were announced in Sept.
    Lawyered up won a huge victory for Siga management, seen the payroll and any extra expense accounts, lawyer fees... buried in the accounting. Play with Wall Street Big Boyz get burned by....

    Siga and Pharmathene (investors) have been huge losers. Delaware Chancery Court teaches shareholders another lesson.

  • Reply to

    Why did Siga lawyer up and go "bad faith" in 2006

    by cash2go Jan 14, 2015 1:59 AM
    cash2go cash2go Jan 14, 2015 1:52 PM Flag

    thought the Supreme Court said something about "BAD FAITH"...and Siga staff did a great job of recommending Siga voters vote for the LATS based merger. Do I need to post again where Siga and it's voters were explained the many reasons to vote yes. Months, and months and then months and the opportunity to vote that was still recommended in Sept 2006 was never put up for vote?

    Lawyer up and go for it all then became the new nearest to LATS terms possible.

    Reasonable certainty, starts when you wake up in the morning - risk one
    Blah, blah, blah, blah as lawyered up trys to make "BAD FAITH' was done because they saw darn close to zero success was likely after the primate study results were released in Sept. 2006

  • Reply to

    Why did Siga lawyer up and go "bad faith" in 2006

    by cash2go Jan 14, 2015 1:59 AM
    cash2go cash2go Jan 14, 2015 8:34 AM Flag

    Appeal?

    page 37

    Delaware Supreme Court said:

    the parties have a Type II preliminary agreement to negotiate in
    good faith, and the trial judge makes a factual finding, supported by the record, that
    the parties would have reached an agreement but for the defendant’s bad faith
    negotiations, the plaintiff is entitled to recover contract expectation damages

PIP
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