The ultimate prize is AFFY BK so Takeda can take all of Omontys for pennies on the dollar. I am just waiting for EXP to post another SA pump article so I can buy and dump. So far no SA article. Also, you can count on Alpha Exposure to counter any EXP SA article with new information obtained via a FOIA request to the FDA. Who knows, should all this come to pass, maybe Jagan can sell his AFFY shares to the greater fool.
There is no "ultimate prize" as Jagan, EXP and Maxdad like to tout. GLTA.
I do not plan to buy AFFY until EXP posts another Seeking Alpha article for his minions to pump it up so I can dump it for a quick profit. AFFY is not a buy and hold kind of stock.
Read the order which has been posted online before. The judge, in fact, did dismiss 3 of the 4 allegations of fraud, All it takes to recover for the plaintiff shareholders is just 1 proven allegation of fraud. The judge opined that Orwin's assertions that Omontys allergic reactions were similar to other ESAs appeared to be fraud, in fact, given the numbers of patient severe allergic reactions and deaths which were out of proportion for the numbers of patients treated. The securities class action liability ougt to overwhelm any insurance coverage AFFY may have since the liability is in the large hundreds of millions.
EXP, like Judas Sheep Maxdad, is a con. He is all about a pump and dump and market manipulation of AFFY stock on blue sky scenarios.
Jagan. I am confident you will dump your shares on the next runup since Omontys and AFFY are DOA and it is all market manipulation as well you know.
I plan to open a new account on Monday with another broker to go long AFFY. I cannot go long AFFY at TD Ameritrade while I maintain a sizable short position. I believe EXP and his cohorts are about to start another AFFY pump and dump. I am not so naive as to hold AFFY for the "big payout" upon the return of Omontys which is not going to happen, if ever, until after AFFY goes BK. Nonetheless, I am not one to forego profits on a classic pump and dump orchestrated by EXP and Maxdad.
Listening to the CC, it seemed as if all Mannkind was chomping at the bit to say something firm about Greenhill's task to negotiate a final deal, but did not want to frustrate negotiations with loose talk. Nonetheless, it appears that with Al Mann's emphasis on the 500 Worldwide patents, together with 496 patents pending, that secure Affrezza, Technosphere and Dreamboat technology through 2030-33, the immense value of that patent protection is a significant and material issue that Mannkind can use to strike an optimally favorable deal for its shareholders. I am pleased of Al's awareness of how to negotiate with
Right now, and ever since AFFY went from NASDAQ to the OTCBB, retail cannot buy any options whether puts or calls. Jagan is sure doing all he can to encourage another AFFY pump and dump so he can dump his AFFY shares to the greater fool like he did at $2.01 during the last one. Do you want to be the AFFY greater fool?
If you want to make some money in biotech here is a GWP recommendation. Forget AFFY. It is dead money and headed to BK. Buy some CYTR. It is taking a hit today because of an Adam Feuerstein article on GALE paying money to a stock touting firm who hired someone to write multiple Seeking Alpha articles using multiple aliases. AF noted that CYTR recently hired the same firm. The difference for CYTR is that Jeffries and Oppenheimer recently closed a CYTR secondary offering at $6.50 per share which was a 19% discount from CYTR's price the day the offering was announced. Stock touting firms do not affect Jeffries and Oppenheimer's due diligence/modeling behind pricing CYTR shares at $6.50.
CYTR's rise in price is due to the tremendous and scientifically validated success of its aldoxorubicin Phase II results which treats soft tissue cancer tumors statistically and significantly better than the industry standard medication currently used called doxorubicin.
Do your own DD but at the currently offered $6.20 per share price, I believe you will have a successful investment.
PS The GALE insiders have been selling shares into its price rise. Insofar as I could determine, CYTR insiders have not done likewise and have been accumulating shares.
If so, I will buy more. The stock promotion campaign does not affect Jeffries' and Oppenheimer's due diligence to price CYTR's secondary at $6.50 per share. Buying at $6.20 is a gift to longs, especially with aldox Phase II results and the FDA's decision to all Phase III aldox trials to extend dosage until PFA. I am a buyer here.
I booked a hefy six figure profit from my short at $15+ per share to close out my original position. I then shorted substantial AFFY shares at $4 per share, and closed at about $1.40. I went short again a couple hundred thousand more AFFY shares via $2 puts. I do not think Tom that you understand investing in biotech, and especially Laffystock. I would NEVER own AFFY long. Too much risk of the stock going worthless.
Color you green with envy Tom Rabit as wiser investors do much better than you. The AFFY story is not how many CKD dialysis patients die in general, but how many CKD patients die withing minutes of taking Omonytys. Somehow that distinction seems most difficult for you to comprehend, but then again AFFY longs are in deep denial of reality.
Idiot Longs. Oppenheimer filed the Statement to show that it no longer holds anymore AFFY stock.
Go read the filing at sec.gov. Oppenheimer Funds has sold all of its AFFY shares. It now holds ZERO AFFY.
Like me, nobody pays Grey any money to post on this board. I honestly do not believe Grey has any position in AFFY. The AFFY longs are interesting to follow due to their deep denial of reality and inane optomism while anybody ought to be able to clearly see that AFFY's BK makes sense for AFFY, makes money for Takeda, limits the amounts litigants can recover in both the securities class action litigation and the products liabilities claims, and is better for whatever future Omontys may have.
I am short a good many shares, and have substantial profits should I choose now to close my short position, but I am waiting for the AFFY BK. At one point in my 30+ year law practice, I was an associate working in a Chapter 11 reorganization firm, the kind that The Brenner Group would hire for AFFY, so I have expert knowledge about the benefits of Chapter 11 for AFFY and its control persons. There is no benefit from Chapter 11 for current AFFY shareholders.
Hard to believe there is no financial impact. Of course there is. AFFY has a contractual duty to indemnify and hold harmless its current/former officers and directors in connection with litigation liability AND at $200 per hour for time spent in connection with the litigation. While a judgment against AFFY is covered by insurance, the proper question is whether insurance is adequate to cover the ENTIRE judgment.
Takeda need not walk away from O for AFFY to go BK. All Takeda needs to do is stand around for a little while longer and AFFY will go BK all on its own. Then Takeda can buy out the $180M milestone/royalties agreement for pennies on the dollar at a bankruptcy court approved price with no fear of any litigation to challenge fairness. Takeda saves lots of money that would otherwise go to AFFY plaintiff litigants and current AFFY shareholders are left holding an the empty AFFY bag.
What a strategy! Are you suggesting to sell your AFFY now, wait until after AFFY's BK, and then buy AFFY at 2 cents a share? Think of all the shares you then could buy. But you would need to hold for another year or more, and constantly hope and pray that your 2 penny AFFY shares do not go to totally worthless. Does no government government bailout muddy your plan? How savvy an investor. All AFFY longs pay attention to Jag. He has got your back.
I am so sorry for your losses Jag. You did right to sell AFFY at $2. The problem was you bought back on the downside and AFFY just kept going down. You now have a decision. Lose it all, or salvage what you can before AFFY's inevitable BK.
FDA most likely will approve Affrezza either with cautionary warning about COPD or advise against use when COPD present. Not really so big a deal.