SIGA has indicated that it expects to continue to perform under its contract with the Biomedical Advanced Research and Development Authority (BARDA), and is eligible to receive up to an additional $211.5 million in revenue under its contract in addition to the $198 million it has already received.
SIGA's petition for bankruptcy initiated a process whereby its assets are protected for creditors. The legal findings in Delaware court are separate from the bankruptcy proceedings in New York
Furthermore, because SIGA has filed for protection under the federal bankruptcy laws, the Company is automatically stayed from taking any enforcement action and even if the proceeding in the Chancery Court proceeds, the payment of any award by SIGA would be subject to decisions made by the Bankruptcy Court as part of the bankruptcy proceedings.
You can go back and forth all day. If siga wins where does siga stock price go? Where does pip stock price go? If pip wins do they get anything? Where does it stock price go then? Where does siga stock price go? Where is the better risk reward? When did award calculation become non speculative?
Why have no other orders been placed? Are you saying govt and fda in cahoots with siga jeopardizing public safety waiting for this to end? Siga must be pretty powerful i guess parsons missed that memo.
What other choice was there? How do you know siga did not try to settle? If not it will come out but i dont know if anything can be done. Board members would be foolish to sit back and let that happen. Not sure if they could be held accountable. Now answer the question as to when this award became non speculative?
Bottom line now is guilty for bad faith but is that award too speculative? How does a cut and dry easy to see settlement with guaranteed profits put a company in BK? Siga did not go and spend every single bit of profits. So where is the $ to pay this non speculative award? Yes salaries way too high.
I bet you never thought promissory estoppel would never get over turned. Unless you are pip insider you have no idea if siga tried to settle. If pip would not settle and you were siga what would you do? Hand over $ and then what? BK may have been only choice.
How do you know siga did not try to negotiate and pip was too greedy? Pip wanted the billion pay off. Hard to settle when shareholders were told billions. Pip never developed anything and has a bad track record submitting false data? It comes down to speculation. Why is it now not too speculative to calculate but before it was?
Whether it was a binding, non-binding, type I or type II agreement how did calculation of award become non speculative?
If appeal is heard and won by siga the shareholders and the public who may benefit from stockpile. If siga does get another order during BK then see above. Why would they pay $200 million they never made? If award was so easy to calculate at time of breach how did it put siga in BK?
First of all at time of breach your Putin Assad BS has no place in the amount of the award. But it does show how things can change and nothing is guaranteed. What are they trying to protect? What they have and possibly use the $ to develop another drug because they hsve no guaranteed orders for 246. Yes govt wanted more than 1 supply of anti viral which means no guarantee that 15 million courses would be given to 1 company and as you pointed out it was canceled so again no guarantees there. As you like to point out what happens to siga if they lose appeal what happens to pip if they lose?
Good conscience? You are here to dance on peoples graves. Karma will come around. The bankruptvy and delisting are part of the process. Its up to speculation. No way this could have been a sole source. Other companies wanted a piece of that rfp. Foolish to think it was guaranteed that 15 million courses would go to one biotech and that contract would be started in 2010 or 2013.
Fear mongering for non speculation come on. Another drug or vaccine could come up and knock 246 to the sidelines nothing is guaranteed except death and taxes. That award is way too much and you know it.
St-246 in my opinion will never be fda approved. Therefore, only possible buyer is this govt or in emergency use. Having 1 buyer alone to me is speculative. Betting on terror attack or the possibility of a lab mishap is betting on speculation.