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Curis, Inc. Message Board

cash2go 116 posts  |  Last Activity: 16 hours ago Member since: Feb 8, 2006
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  • Reply to

    let's hear from PIP......

    by cherokeemgr 20 hours ago

    Picked up shares at a $7.80 so I'm not complaining. The market doesn't seem to agree with me and what I thought I saw in the Chapter 11 news.

    Time will tell.

  • Reply to

    let's hear from PIP......

    by cherokeemgr 20 hours ago

    Chapter 11? Maybe the BK Court will clarify this mystery:

    Siga's 10Q
    page 2
    Cash and cash equivalents $99,029,327
    Total current assets.............$129,734,471
    Deferred revenue................$188,081,857 (((listed as liability)))

    page 6
    The Company received approximately $15.3 million for the delivery and acceptance in July of 115,000 courses.

  • Reply to

    let's hear from PIP......

    by cherokeemgr 20 hours ago

    Another wild guess on my part, PIP will make it clear they have no intention of letting Siga d/c the production of Tecovirimat. Siga's theatrics are being played out for anyone thinking of throwing a lawsuit at the management team.
    The Chapter 11 details were a full of good details for Pharmathene shareholders. Chapter 11, BOO, lots of shares being thrown out by day traders and the fear and panic selling that no doubt led to some forced selling. Selling begets more selling, again.

  • Reply to

    “a very large sum of money,”

    by cash2go Sep 17, 2014 2:52 PM
    cash2go cash2go Sep 17, 2014 3:20 PM Flag

    Note who said it would be a very large sum of money, U.S. Bankruptcy Judge Sean Lane.

  • Reply to

    “a very large sum of money,”

    by cash2go Sep 17, 2014 2:52 PM
    cash2go cash2go Sep 17, 2014 2:56 PM Flag

    Why Chapter 11?

    Endanger Production

    In Chapter 11 papers filed yesterday, Siga said PharmAthene’s victory in the contract dispute is endangering its ability to produce the smallpox medicine, called Tecovirimat. Court protection will allow Siga to put off posting a court bond on the damages award to PharmAthene while it attempts to lower the penalty on appeal, the company said.

    * tee may be right about the $4, and the market should start pricing in the good news with daily ramps.

    Congrats to all

  • Bloomberg
    “Everyone agrees” the judgment is going to be “a very large sum of money,” U.S. Bankruptcy Judge Sean Lane said today at a hearing in Manhattan. Still, the underlying lawsuit must be dealt with later and primarily in Delaware, where it’s pending, Lane told Charles Dale, a lawyer for PharmAthene.

    * hope everyone loaded up on this dip

  • Did Siga just say it now owes Pharmathene $232M? Wants Chapter 11 to pay debt and maintain control of Tecovirimat, just need time to reorg. Should take about a week under Chapter 11, see latest 10Q:

    Siga's 10Q
    page 2
    Cash and cash equivalents $99,029,327
    Total current assets.............$129,734,471
    Deferred revenue................$188,081,857 (((listed as liability)))

    page 6
    The Company received approximately $15.3 million for the delivery and acceptance in July of 115,000 courses.

    *and continues to fill $430M order

  • Reply to

    PIP is plainly now worth more than $4.11 / share

    by teebrane Sep 16, 2014 1:28 PM
    cash2go cash2go Sep 16, 2014 4:55 PM Flag

    BK is the only chip the boyz have left to play.

  • Reply to

    Delaware Supreme Court view of Siga

    by cash2go Sep 16, 2014 3:17 PM
    cash2go cash2go Sep 16, 2014 4:53 PM Flag

    Looking back at what Delaware Supreme Court said.

    Supreme court said focus on LATS terms, lump sum is appropriate on expectation damages. Appeal? Looks like the boyz running the bad faith tactics now want to go to Bankruptcy Court to play games.

    Siga's 10Q
    page 2
    Cash and cash equivalents $99,029,327
    Total current assets.............$129,734,471
    Deferred revenue................$188,081,857 (((listed as liability)))

    page 6
    The Company received approximately $15.3 million for the delivery and acceptance in July of 115,000 courses.

    Chapter 11 - Pharmathene agrees to let Siga stretch out payments and pile on interest.

  • [B]ad faith is not simply bad judgment or negligence, but rather it implies the conscious doing of a wrong because of dishonest purpose or moral obliquity; it is different from the negative idea of negligence in that it contemplates a state of mind affirmatively operating with furtive design or ill will.

    ((again))

  • cash2go cash2go Sep 16, 2014 1:04 PM Flag

    Financial Press wants you to sell! I'm looking at the $1.85 gift horse I've been buying today and not asking questions.

  • Looking at Siga's 7-31-2014 10Q
    page 2
    June 30, 2014
    Cash and cash equivalents $99,029,327
    Total current assets.............$129,734,471
    Deferred revenue................$188,081,857 (((listed as liability)))

    page 6
    The Company received approximately $15.3 million for the delivery and acceptance in July of 115,000 courses.
    * Also
    Completion of initial BARDA contract for $433 million to be completed by first quarter 2015

    Milestone for FDA approval will be worth $50 to $100 million more
    ---------------------

    Chapter 11 with the understanding that interest will continue to add to payout to Pharmathene? Pharmathene could work with that. Siga is already good for $250M and more to come with the last 430M Barda order.

  • Reply to

    Apparently the number is $232 million

    by zacklabster Sep 16, 2014 9:28 AM
    cash2go cash2go Sep 16, 2014 12:42 PM Flag

    ...said 232M (plus interest)

  • Reply to

    More "bad faith"...

    by cash2go Sep 16, 2014 9:47 AM
    cash2go cash2go Sep 16, 2014 11:05 AM Flag

    232M plus interest, guess Siga wants to be a part of future BARDA contracts and protect themselves from personal lawsuits. The "bad faith" was an ugly statement about how management handled negotiations as they mislead their own shareholders. The Boyz are now negotiating with Pharmathene on merger under best possible terms? Pharmathene has $$100M in tax loss carry forwards that would be valuable in seeing PIP shareholders getting every possible dollar they are owed

  • Reply to

    More "bad faith"...

    by cash2go Sep 16, 2014 9:47 AM
    cash2go cash2go Sep 16, 2014 10:06 AM Flag

    ((Listed under Liabilities))

    Deferred revenue................$188,081,857

  • Looking at Siga's 7-31-2014 10Q
    page 2
    June 30, 2014
    Cash and cash equivalents $99,029,327
    Total current assets.............$129,734,471
    Deferred revenue................$188,081,857

    page 6
    The Company received approximately $15.3 million for the delivery and acceptance in July of 115,000 courses.

  • Treble damages if current negotiations continue the "bad faith" for a second time? Supreme court said focus on LATS term, lump sum is appropriate, the court told siga how they view their bad faith during the first negotiations.

    Bad Faith - The Court recited the standard for bad faith under Delaware law “is not simply bad judgment or negligence, but rather … the conscious doing of a wrong because of dishonest purpose or moral obliquity; it is different from the negative idea of negligence in that it contemplates a state of mind affirmatively operating with furtive design or ill will.

    My greedy side. I want Siga to appeal. #$%$ some traders and suck in some shorts and allow me to load up on a panic sell off. I don't mind the interest adding up daily.

  • Since the last order we now know that the CDC accidentally discovered they had some Variola vials in a Bethesda lab stored in the there in the 1950's. Later verified that some of those vials were tested as positive for live Smallpox virus. There are thousands of Labs around the world that have the potential have unknowingly done the same thing.
    More worrisome. The USSR was known to have smallpox in storage before it broke down into some chaotic years as it disintegrated into Russia. Who knows how many Soviet labs actually had the virus in storage. From what I've read the accounting for the known storage site is sketchy and smallpox virus was said to be on the shopping list of a few unsavory characters.

    The logic for BARDA eventually ordering the 14 million courses in the original plan is more likely than ever. Siga knows this and it should motivate them to settle with PIP on the most generous terms they can afford. That may entail a complicated merger of the two companies? with Pharmathene being the company name going forward. "Siga" has a certain notoriety it has earned and it would probably be a positive to see that name being abandoned.

  • Reply to

    Another Deadline Under Aug. 8 Order Tomorrow

    by fwabuster Sep 10, 2014 9:16 AM
    cash2go cash2go Sep 13, 2014 2:39 AM Flag

    "PIP ends up acquiring SIGA"
    The two intended to merge under the LATS terms, DSC thought so. McAndrews & Forbes and a couple of other "holders" were proxies for Perleman's majority control that decided to take the "bad faith" path as a play for the best ROI. That was 2006. I suspect billionaire Perelman is ready to cash out now that the legal route is now the least profitable path at this point.
    My guess, PIP & SIGA will be merged and Grandpa Perelman will exit with a nice profit, some kind of royalty from future contracts and a wording in the settlement that professes Perelman's invaluable contribution to....

    Siga = Perelman

  • Reply to

    Volume has tapered off

    by archsci Sep 12, 2014 2:20 PM
    cash2go cash2go Sep 12, 2014 5:30 PM Flag

    Expecting to see some smoke signals early October?

    The Parson's calculations from PIP and SIGA will become public via Delaware Courts about that time.

    Maybe earlier? The Delaware Supreme Court has already made it clear that a settlement should be closely based on LATS terms. Siga is likely negotiating in earnest this time and would pay a heavy price for more "bad faith" negotiations. The earlier Siga settles the less it will cost in interest, posting and appeal bond, legal fees...and Siga can focus on getting at least one more $400M order from BARDA.

    Meanwhile volume tapers as traders and weak handed shareholders are being spooked out of the stock while it digest the previous huge percentage move.

    GLTA, wish someone would stop collecting in the $2.20's so that my low ball bids would pay off.

CRIS
1.560.00(0.00%)Sep 18 4:00 PMEDT

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