Astex Pharmaceuticals, Inc. Message Board

That's good, you will have some really nice tax deductions for a number of years. Glad I bailed on this POS at $23 and the rest at $21.

Just don't bet the house on it, because there's about a 97% chance you'll be homeless.

I give this a 2-3% survival (Affymax as a company).

Odds are heavily stacked against you.

Affymax just released a PR...

Affymax said it would retain a bank to examine the prospects of a sale or merger, and is looking at possible further restructuring, winding down operations and even possible bankruptcy.

They are going bankrupt...the stock just tumbled after their PR.

Company just hired a bank to explode BK filing and you're buying.

Easy way to lose 75-90% overnight as soon as they sign off on the BK paperwork.

You just lost 10% in a matter of minutes.

Keep on drinking that koolaid. AFFY = lights out.

Large funds have rules in play that they CANNOT buy shares in sub-$5 companies.

This goes for Vanguard, Fidelity, Bank-funds (JP Morgan, Bank America, Citibank), etc.

Until this breaches $5 and could maintain a $5 and above price, your large funds will be non-existent.

It will come in due time.

They hired a bank to either explore a sale or file BK.

After firing 75% of their workforce, taking a $10 charge in doing so, they are burning throw a boatload of cash. Let's not forget they owe around $11-$15 mil on their manufacturing facility.

I think BK is the only option here. Cash will run dry in about four months.

A major stock solution at this point could be done, but I think any underwriter willing to sign off on such a move would be asking for pain. They might ask for their shares at 25-30 cents due to the risk involved. Hence if completed, the stock might fall another 60-80% on any news of such a move.

I think they screwed over shareholders enough and will not dilute here.

It's game over.

I personally think you made a mistake here.

Bought in @ 5.15.

Slaughter? Dude - Are you reading the charts correctly?

This stock went from $28 to $1.25.

Shorts were right bro, game over here. Chalk up the loss and move into something that will be green in a few weeks/months like ACRX or DRRX. AFFY is going to zero, sad but true.

Ramm - I'm not following. The biotechnology index (IBB) just hit a 52/wk high today. When have most bios been down? The last time bios were down was in early/mid 2011. You're either buying the wrong stocks or are also reading the charts wrong. Biotech is continuing to soar higher. Where have you been?

In regard to Affymax, my heart goes out to the longs, but the stock is performing as expected with such a move. Affymax just fired their ENTIRE sales staff that they hired, newly hired and trained over the past 3-18/months. What more signs do you want that are keeping you from selling? They have no product, no sales staff and nothing in the pipeline. Affymax is dead, sell now and reap what you can before it heads to zero.

All institutions were forced to bail on this when it dropped under $5, it's over man. No insider buys, no institutions holding, barely any employees left. Affymax is done, simply a shell company with some cash on the balance sheet (cash that's quickly burning mind you). It may be $1.25 a share today, however when that cash on the books goes to zero, the stock will also follow to zero.

It might take 6-9 months, but short here for an easy 100% gain.

Sentiment: Strong Sell

Repeat, fired their ENTIRE sales staff. ENTIRE meaning 100% of the sales reps and trained folks have been told their jobs are no longer needed. Have you ever sold anything without sales reps? It's pretty hard considering you cannot sell Omontys over the internet....

Ramm - I'm not bashing by no means. I was a hyper-long here since $6.50 (for 2000 shares), added another $500 at $16 and another 500 at $18. Sold over half at $23 (on the way down) and the remainder at $21 (on the way down) after peaking at $28.

Not a smart investment anymore.

Sentiment: Strong Sell

Writing is on the wall here, it's a curtain call. Bankruptcy is clearly inevitable.

Sentiment: Strong Sell

Call it what you may, Affymax was a start athlete that had a potential blockbuster on their hands starting to chip away at Epogen and they fumbled the ball on the 5 yard line. They didn't expect this obviously. They simply didn't do their 100% due diligence during the trials. They did 99.8% of their research but it was the 0.2% chance that ended the career of this potential star athlete.

Then the only benefit you will have experienced is a $3000/annual tax write-off.

That's the only benefit because it's going to zero.

Sentiment: Strong Sell

Ramm - You're best option is to make it back by buying ACRX or DRRX. These guys have 200-300% potential gains for 2013. Next big companies in pain management, both with trials managed by Pfizer.