T. said it:
"Non-binding! Non-binding!". Rejected, rejection upheld. SIGA's second argument was "PIP should only at most get reliance damages". Rejected by Chancery, who in 2011 ruled for semi-performance of what a good faith licence would have looked
like. This was appealed, and in 2013, DE SC made new law in saying that Chancery was allowed to award expectation damages
And Siga is about to pocket hundreds of millions for doing the wrong thing in the eyes of the court, a sad and obvious example of what you can achieve by twisting America's legal system.
$22.3 M cash and cash equivalents after $2 M reorganization charge. Plenty of cash and a laser focused minimal cash burn going forward. Great to see a company actually put priority on ROI for shareholders.
If things go well Pharmathene can also add the almost $3 M a quarter from the $30,000/day from the Bad Faith Boyz as their legal fun continues.
Millions still going into the pockets of the Siga insiders as the legal quagmire continues. Shareholders? Not so much the focus for Siga.
GLTA small shareholders in both.
Whatever happens I do know that this is one management team that aims to give their investors a ROI. As good as any.
GLTA small investors
Are you on the board to help small investors or scare traders out of a position? This is a lawyered up very well played Siga ploy. Play Bad Faith card and see if hundreds of millions fall into the "right" pockets. Siga lawyers are very very good.
AN PharmaTech Co Ltd is a supplier
As Rose said it's not expensive to make.
$36 - starting to get tempting. The Summer Biotech Bubble talk has begun as Wall Street plays it's games to try and get their shares on the cheap.
The 88% in first trial was impressive? Questioned the age differential when they broke it down and was assured it was not a factor. I think it was.
robel thanks for a serious response. Not in love with the stock and a serious discussion of valuation is the only reason I log onto these boards.
The DSC ruled Bad Faith and to award based on LATS with a recommendation to use expert testimony to determine valuation of award. Thought Parsons went very conservative. Expectations in Sept 26? Think Siga would have sold 246 for $300M cash? Doubt it as I look at the $5 billion Congress has already passed for funding purchasing of therapies with smallpox being a priority. After the primate study and safety results 246 was just a matter of time.
Note the new $400M Chimerix smallpox contract just awarded worth up to $435M
In Sept '06 I think all the partners in this knew the potential of 246 was very big. $113M, thats a huge gift to Siga's lawyered up ploy, it worked.
Judge Parsons went as light as he could on the award to Pharmathene. Delaware Supreme Court is fully aware of the ill intent Siga use to get out of the contract and to limit the award to Pharmathene. I'm guessing Siga would settle this out of court on stairs leading to the Supreme Court before allowing them to weigh in on what would be a just reward for Pharmatene.
Meanwhile Parsons is delivering $30,000 in interest to Pharmathene and Siga has massive costs in legal fees and reputation to keep this charade going. I think you folks that think this will continue to be dragged out as long as possible are now wrong.
GLTA small investors
Excellent find being ignored by market." PharmAthene will receive another type of distribution that will include stock in the reorganized enterprise"
I've added quite a few shares sub $1.65 and hope to get more even lower. "another type of distribution" may be worth holding onto as BARDA just recently added to their smallpox anti vials with another up to $400M purchase. We know The recent Chimerix order was for 001 and it failed to save monkey's form monkey pox, why that BARDA order now???
Thanks again for sharing your find. If wall street could just shake, rattle and roll a few shares even lower I would be very happyl
London Metal Exchange: Zinc, you get free quotes on pricing and additional info. Wish I had bought ZINC at it's bottom about a month ago. LME price for zinc also rebounded nicely during that time period.
Strange thing is that I've seen earnings estimates for ZINC continue to decline. Wall Street Analyst games?
Best of luck on your holdings here. I'm still on the sideline and feeling like I missed the best entry point for this year.
When investing I'll take a management team focused on a ROI for shareholders, they are much rarer than most think. Pharmathene's latest reorganization plan was a home run. Maybe Siga has exhausted it's ill will lawyered up effort and is now ready to show some professional integrity in what we may see before May 13?
Expecting and out of court settlement and a sooner the better attitude from both sides.
GLTA, it's late April
Not that uncommon. Let 'em fall and buy the gems. PTLA has done that for me a couple of times. Summers are prime time for bargain hunting.
No idea if PTLA will get caught up in a sell off. IF it does I will be buying.
Thanks, nice pearl of wisdom. Make you think some serious efforts are finally occurring aimed at end of the litigation error for PIP.
(:or PharmAthene will receive another type of distribution that will include stock in the reorganized enterprise.")
See Chimerix new contract with BARDA for smallpox? Barda is still interested in building stockpiles and maintaing them.
Thanks for the post
Alex Davis (Bloomberg) | 13 March 2015
Zinc is on the verge of a bear market as ample raw material in China, the world’s biggest producer, boosts output to a record, outweighing a global deficit.
The metal used to rust-proof steel has dropped 16 percent from a three-year high on July 28, close to a 20 percent drop that commonly defines a bear market.
Zinc is set to join other metals including tin and nickel in slipping into a bear market as increasing supplies weigh on prices amid weakening Chinese demand. The country’s zinc smelters are boosting production even as the government cut its economic growth target in 2015 to the lowest in more than 15 years. The LMEX Index of the main six base metals traded on the London Metal Exchange is near a five-year low.
I'm confused as I thought Zinc mine production was running into a problem with the closing of mine(s) in Australia.
DNDN went bankrupt on autologous dendritic and the treatment was very expensive. CAR T is much more expensive it would BK our medical systems. Biotect is on monster bubble and the downside will be swift. Plan to buy the good ones that sell off too hard. By the end of summer?
Big Pharma and Wall Street hate nothing more than a renegade doing compassionate use while a drug trial is going on. The boyz also hat to see a CEO hinting at the positive trial results she sees insinuated in the company reports she is seeing daily. Thats the kind of info Wall Street, Big Pharma and inside doctors play with "legally" to make billions off their customers.
Woodworth is one of the billion dollar boys that seems to have broken the truce and decided to trade off the compassionate use data. Wouldn't you like to be a fly on the wall as they were discussing what they had found out as they were snooping around the patients and doctors involved with the compassionate use data.
GLTA, looking forward to Adam F exposing the cancer patients and doctors for the data they cooked up in the latest new release.