Absolutely. Thanks for posting this reminder for everyone. BP hasn't forgotten it,but some retail investors may have.
The trial is fully enrolled and is no longer recruiting(notice red lettering), which is good news. Hope Bristol Meyers likes what they've seen so far.
I agree, wmic. The small investor works at a terrible disadvantage.
All of the above concerning the Auction Baseline Bid is just speculation, and perhaps wishful thinking, but I feel that the risk/reward at this point is just too good to pass up.
I never invest more than I can afford to lose, and I'm reigning myself in here because there are just so many unknowns.
Don't know how much can actually be shared at this point (before the auction).
But it would seem to make sense that if someone set the bar high--say $2 billion--participants would need/want to know before the auction so they could be prepared before they walk into the room on the 3rd.
"The Debtors shall use their best efforts to provide each participant in the Auction with a copy of the Modified Acquisition Agreement associated with the highest or otherwise best Qualified Bid received before the Bid Deadline (such highest or otherwise best Qualified Bid the "Auction Baseline Bid")"
Soooooo, nearly everyone (including me) expects all of the preliminary bids to come in at $250 million--the old stalking horse number.
But what if the "best Qualified Baseline Bid" comes in considerably higher than $250 million and now some of the other bidders must decide whether they can afford to participate in the auction. Just dreaming, of course.
This applies to the bidding procedure at the auction on Feb 3, however, I can envision several other tantalizing reasons for the current extension by Dendreon.
"Pfizer has kept people guessing on what its next move will be. But the pharma giant managed to reduce the odds for an AstraZeneca deal when it opted recently to make a huge, $2.85 billion deal with Merck KGaA on a very early-stage immuno-oncology pact. Its $850 million upfront quickly vaulted to the top of the list of all-time upfront payments in a development deal, and represents both Pfizer's need to significantly improve its pipeline as well as its appetite for doing things in a big way.
That deal, though, was focused on a Phase I anti-PD-L1 program and related efforts, leaving Pfizer far back in the pack as AstraZeneca solidifies a position as a player in the field, elbowing its way into a race now dominated by Merck ($MRK) and Bristol-Myers Squibb ($BMY)--with Roche ($RHHBY) playing a key role as well"
Pfizer wants in to immuno-oncology, but Merck deal was on a Phase 1 drug. That will take years--Pfizer needs revenue NOW. Where will they turn?
Top picks are:
"no previous interest among 40 reviewers"
What were the TERMS, gordo? What were the TERMS? Was Dendreon giving everyone a pre-auction shot at securing the company for themselves, but asking a VERY, VERY HIGH price?
Expansion of the label is the big prize.
BP knows what that means and they know how to get it done.
M&A expected to be big in 2015. Wonder who might be acquired?
You are absolutely right, chemistrysoul55. BP is looking down the road and they know the value of earlier use.