of (up to) 19.9%.
Also note that negotiations that were going on between UNIS and other interested parties have been D/C??? Seems more desperate and we will only know in the long term if Amgen's is seeing results in their trial to warrant an expanded or even continued relationship.
Nobody else showing enough interest to allow Amgen exclusive rights was disappointing to me.
What kind of agreement is likely? One clue came from Pharmathene, set up to be taken out:
PharmAthene Reports Year-End 2014 Financial And Operational Results; Announces Plan To Realign Operational Resources
March 9, 2015 4:01 PM ET
If PIP gets top dollar in a merger it will also want something for the tax loss carry forward which could pay half the judgement, if not more awarded by DSC. $3 to $3.5 seems like a possible buyout price in a new Siga stock ownership plan?
Another Siga bonus to make Pharmathene happy and move on:
$50 million payment to the Company for FDA approval for extension to 84-month expiry for Tecovirimat (from 38 month expiry as required in the Base Contract)
The BARDA Contract also separately contains $178.4 million of options that, if exercised by BARDA: would fund development and supportive activities such as work on pediatric and geriatric formulations of the drug as well as use of Tecovirimat
* Siga management has a big incentive to work out a deal to pay Pharmathene $205 Million plus while preserving Siga tax loss carry forwards.
Negotiations look to have provided this gem:
PharmAthene Adopts Stockholder Rights Plan in an Effort to Protect Net Operating Loss Carryforwards
Lead Product - Tecovirimat
On May 13, 2011, we signed the BARDA Contract pursuant to which we agreed to deliver two million courses of Tecovirimat to the Strategic Stockpile. The BARDA Contract is worth approximately $463 million, including $409.8 million for manufacture and delivery of 1.7 million courses of Tecovirimat and $54 million of potential reimbursements related to development and supportive activities. In addition to the Base Contract, the BARDA Contract contains various options exercisable at BARDA's discretion that would fund development and supportive activities such as work on pediatric and geriatric formulations of the drug as well as use of Tecovirimat for smallpox prophylaxis; would reward the Company $50 million for FDA approval of an extension to 84-month expiry for Tecovirimat (from 38 month expiry as required in the Base Contract); and would fund production-related activities such as warm-base manufacturing. As of September 30, 2015, BARDA has not exercised any options. The BARDA Contract expires in September 2020
*Why wouldn't McAndrews lend Siga the millions needed to neatly close the deal and place the loan under onerous terms leading to the majority owner owing a much greater part of new "SIGA".
DSC voted strongly in favor of Pharmathene and any more legal games would be ill advised. Siga is an insolvent majority owned corporation now in position to negotiate in good faith with Pharmathene to conclude what has likely turned into much better conclusion of events than LATS would have left the majority owners with.
$205 PLUS that will be debtor approved in way that will also keep Tecovirimat shipping and ready for future orders and satisfying PIP shareholders, SIGA majority owner and BARDA.
Welcoming all negotiations from this point forward. Yes, there is upside to the expected settlement.
Happy New Years to all the small investors that have attempted to help other small investors make money off of their investments. To the shrill #$%$ attempting to throw in fear and doubt to take money from the small investors to line your on pockets I hope you find better employment in the year ahead. Your life is sad and
can in no way make you feel like a better person. Move on and a have good life.
$1.85 algo gone? Still think if the small guys pull their bid it will give us a very cheap surprise with with end of year unloading. I really, really want more shares at the best possible price. GLTA small shareholders
Day traders gone, that was quick.
(Siga and PIP agreed) Sounds good to me but somebody still has a lot of shares to sell at $1.85, Wall Street selling judging by size. If the small bidders pull their bids I think we can load up on their algos at lower prices. Guessing the also also wants to sell before New Year break.
Nice to see the small investor in control. Would love to buy a bunch at lower prices. GLTA the small investors.
Siga's paying a $30,000/ day fine and surely Pharmathene can threaten to cut the grossly over priced Siga management staff ASAP to build the cash positions as fast as possible. No desire to own Siga shares, please.
Pharmathene has also completed a downsizing to maximize the return on their investment to investors, their words. Add in the juicy highlights from the Chapter 11 that the two companies working together to minimize tax liabilities and I totally don't understand what the traders are up to on this one. Completion of some trades in 2015 seem to be a priority for some, no guess as to why.
Added at $1.85 today and will take a really big bite should it take another dip. I really don't understand this short term buying and selling....
$2.50 is not even speculative at this point.
Somebody will be buying those going bankrupt and getting long term assets at a fire sale price. I do think it's too early as there seems to be a lot of new oil and gas discoveries worldwide. Not the mention what a happens if a little permanent flooding becomes more noticed in coastal places like Miami in the next ten years.
Cramer is looking short term and sub $3 is possible. Long term the company is getting state approval for increasing rates for long term care, which should be the total focus of long term investors. Short term the CEO has said the rates for long term care are going in the direction but are not yet at a profitable level.
GLTA, short term trading I have no idea.
True. Nobody should be happy that Chimerix failed with CMV.
It does cast some doubt on their claims of effectiveness with smallpox. The excuses for not succeeding with the primate trial, and I don't think that was actually with smallpox, and their convoluted theory on how their drug would regardless actually work in humans and smallpox were a little far fetched. At the least everyone should be grateful for Chimerix further exposing the shadiness that lies in Siga management.