They bought like this in 2009.
They bought like this in 2010.
They bought like this in 2011.
They bought like this in 2012.
All that they are telling me is that they are bad investors.
Eventually he'll take the company private, paying you all $1 a share to buy everyone out. Even if this drug is a multi-billion dollar maker, none of you will actually reap any of the profit.
I have been saying that this company is a shell for a ponzi scheme for years now.
"But...but...look how much Bruce is buying!"
Let's just say that rich people have much less obvious, much less transparent ways of making and/or laundering money.
You'd think that after 10+ years, Synta should be able to make money by selling a drug...
Of course I don't.
Do you believe the joke that this QE induced sugar high bubble will never pop?
Well, junior, fair market value is different from what one random yahoo chooses to value something at.
If you really wanted that piece of pie, I could end up selling it to you for $20. Doesn't change the fact that it's really only worth $2.
Hard to say. It depends on what price they offer the secondary (more like tenthenary) offering at, and how many shares they will create.
They didn't give us that information, so I can only conclude that there would lower price/more shares than we would reasonably expect. Which would be bad, m'kay.
" They were terrified per public offering as if it would be 10 cents a share or some silly thing but it is subjective news not objective since has zero to do with PPS going forward."
Well, junior, a "share" is a portion of the entire company.
That may be tricky for you to understand, so let's compare Synta to a pie. The entire pie is worth $10. If you cut that pie into five pieces, what is the fair value of each piece? $10 / 5 pieces = $2 a piece. Good job junior!
Now, suppose we take that same pie and cut it into 10 pieces instead of five. You don't have any more pie, just more pieces of pie. What is the fair value of this slice of pie?
Partnerships have been "in the advanced stages of happening" for the past 10 or 12 quarters now. It's always ready to happy, any day now, for years and years and years.
Buy hey, don't stop believin'!
All that he's spent so far is still just a drop in the bucket of Kovner's wealth. He will lose no sleep if Synta drops to 0.
Who's twisting history? Synta was the one that twisted the data to lure a partner, and took untold millions from them even though they knew that Elesclomol was garbage from day one.
Why do you think that a drug hyped as much as Ganetespit hasn't attracted anyone in over three years?
You know nothing of Synta's collaboration with Glaxo?
Quit being so lazy. All of this stuff is a matter of public record! Do you do any research on your own at all?
People are still going on with talk of a partnership?
Man, that talk was getting old back in 2010.
None of the big pharma have forgotten how Synta screwed their last partner.
Nobody wants to partner with a company that they can't trust.
There are few companies that have proven to be less trustworthy than Synta.
Better to keep silent and be thought a fool than to open your mouth and remove all doubt.
Well whatdya know, it did go to 4.30. And then some.
There is no rational reason that this company still exists other than its status as Bruce Kovner's charity case du jour.
Apple has 2000 times as much cash...yet they've been a pretty good short target lately as well.
Doesn't matter how much cash this company has. Only matters how long suckers will continue to buy it.
This is, of course, the same Jefferies that makes money whenever Synta does a secondary offering. Which is often. And Jefferies needs bag holders to buy all of these new shares that they create out of thin air.
In other words, they are trying to sell you the #$%$ that they will soon be selling. Again.