wow - ok bet all your money then on SIGA because if that is what they meant, then surely they will overturn Judge Parsons' decision. Since the SC and Judge Parsons already ruled that PIP was entitled to expectation damages, you and the rest of the SIGA hopefuls are betting against what has already been ruled.
No way did that mean the stamping of the non-binding. It was clear to the SC as it was to Parsons that the LATS themselves were non-binding yes, but several documents after and referred/referenced back to the LATS were binding. So yes, the LATS alone are useless, but with subsequent docs (i.e. merger agreement) the LATS became an essential part of this case.
Knowing exactly what the SC meant is a bit like reading tea leaves. I read it as, SIGA was in the beginning saying, "hey PIP, work with us, we are high risk, but there is a $1B-$3B opportunity if we are successful." and when they saw ST-246 on the way to becoming commercialized they said, "whoops, sorry, ST-246 value is too speculative so you are not entitled to what we agreed upon."
At the end of the day, I, as was many on this board, have been waiting patiently for this ruling; and made out ok. I read all the court documents, read all the SA articles, and never once did the SIGA argument make any sense to me. So I stuck with PIP and glad I did! If you are a SIGA guy, why not stay on the SIGA board?
In early court documents, the then CEO of SIGA said they needed PIP's expertise and money to commercialise ST-246. Without it, they were dead in the water.
I am beginning to think the SIGA pumpers never read the court documents. The Heads I win Tails you loose comment by the SC the first time around was a clear indication that SIGA tried to pull a fast one "Hey PIP, invest in us we have a $1B-$3B drug, whoops, now it is almost commercialized, it really wasn't that much."
If SIGA could have done it alone, they would have. Facts and Court Docs prove that they could not.
ok - I will bite ... take one for the team of sorts - of course PIP will get more than $1 from Siga. Lower Courts and SC said they are entitled to expectation damages. Sorry if you had money in SIGA, but Jeff E. predicted everything to a T - even where he thought PIP would be trading after the ruling.
Think about it (even used the same analogy to Hudson in one of his pro-Siga SA Articles years ago) - if I were to work with Intel and develop a brand new chip and right before commercialization I say, "sorry - gonna take this on my own" wouldn't Intel be entitled to expectation damages? Of course! It is on the record that SIGA could NOT have developed Arevyster or whatever they are calling it now without PIP. It is also on record that they expected $1-$3B from this drug while creating the LATS. So - have fun with your rants and looney conspiracy theories - next August or so when the SC comes back with an AFFIRM - this stock will go up to those levels.
Until then, I expect some dilution so I am steering clear until they have enought cash to go beyone next August.
I am so happy for the gains of PIP - I, like many here, have been waiting a long time for this to happen.
I think PIP still burns through 6.1M per quarter; with 11M of cash on hand, when do they issue more share / dilute? Next quarter in my mind.
Think we are about a year out before Supremes make final decision.
SIGA to Host Quarterly Business Update Call on August 4, 2014. This could be a regular business update, but do not recall them doing a business update before (other than earnings) which btw, they already reported earnings a couple days ago. Is it coincidence they are having this call around the same time the judge will be ruling? Should be an interesting Monday (and Tuesday).
I am a buyer here from a technical perspective:
1. Low volume on very large decline
2. 3 weeks of tight trading range
3. RSI way down below 30
With Sparvax out, there is NOTHING else PIP can lose (except for trial - which IMO if they do lose this stock could go to 0). Thinking that they will win, I am a buyer here (feel there is little risk to reward at this point).
Crazy to go all in - but from a technical perspective like my chances.
One problem IMO is that other companies have moven away from liquid Anthrax antidotes and moved to tablet form (I don't know which company off the top of my head - but it was a headline a while back). I don't think Sparvax has a shot at being commercialized - albeit it seemed close.
You and Profitsin seem to be right - thought Sparvax was a slam dunk - all they need is to prove they can make it in the US - how could they screw this up???
Wednesday Pharmathene / Siga is on the docket - any good news there is a good exit point.
Wow Jacat - blast from the past ... I know you were short PIP at around 1.60, it went down to around 1 when you proclaimed, "I am now long PIP." You must have done well - so what is your move now?
I for one like Teebrane's commentary - he does a lot of research and occasionally comes up with something that I have overlooked.
Hi Vanlo - let me explain and then I will shut it - yes I know how to read, it is in the understanding ... So PIP says it was a merger of equals. I voted no long before Prescott advised as such (posted my f** no weeks ago) because I felt it was not a merger of equals - it seemed like PIP bought Theraclone and over paid nonetheless. So yes, I read what they said, but didn't believe it. If it were truly a merger of equals, why would PIP have to dilute 4x (or more precisely issue 4x more shares than currently outstanding) to pay for Theraclone. The stock would have went way down while Theraclone and PIP execs lined their pockets. It was a clearly a win for them at the expense of PIP shareholders. Thanks to Prescott for doing their due diligence.
Nope - an email from your mother - she said go f** yourself. Die Jour (Die Today) yeah - sounds like a plan #$%$ hole.
Just got an email stating the merger has been terminated! Let's see how the stock reacts - I assume it won't move much, maybe a drop then a recoup???
Let's call it for what it was - PIP bought Theraclone - not a merger, not anything else. The info that was given to shareholders was spotty at best - not happy with the management team at all!