"Foreign orders were never big for the smallpox vaccine, so why would they care about an antiviral if they aren't convinced threat is significant enough to stockpile vaccine? "
Canada's PHAC describes possession of freeze dried and frozen liquid formulations. Many countries have a stock of vaccine. The WHO is actively looking to grow their stockpile, and per their estimates as of Nov 2013 there is a long list of countries holding vaccine stockpile.
Millions of doses
United Kingdom 80
Other countries 50-100
"As shareholders you should be fearful that these same people are the ones deciding SIGA's course in this process."
Last time I checked, Don Drapkin was no longer at Siga.
"Another drug or vaccine could come up and knock 246 to the sidelines"
That drug will most likely be CMX001 as Chimerix appears to be on track to secure FDA approval before Siga. Foreign orders have not come in for ST-246 as longs had been hoping for, most likely because it lacks FDA approval. Those orders may go in to CMX after it obtains approval and BARDA validates it by stockpiling it as the second antiviral for the SNS. The idea that Siga's future sales could be determined with any degree of certainty, at the time of the breach, is utterly ridiculous.
On September 18th Siga included the paragraph you posted in their 8-k. You conveniently left out the last sentence of that paragraph which suggests that Siga will not be delisted as you and others are broadcasting.
"The determination of Nasdaq was pursuant to Listing Rules 5101, 5110(b), and IM-5101-1. SIGA anticipates requesting an appeal of the determination of Nasdaq pursuant to the Nasdaq Listing Rules. SIGA’s common stock will remain listed on the Nasdaq Global Market pending the outcome of the hearing."
Business as usual
From the 8-K:
SIGA commenced the Chapter 11 Case to preserve and to assure its ability to satisfy its commitment to supply Tecovirimat, an antiviral smallpox drug being delivered to the U.S. Strategic National Stockpile under the Project BioShield Act of 2004. SIGA intends to operate during the chapter 11 period as a going concern for the benefit of the U.S. government and all economic stakeholders. The chapter 11 filing will ensure that SIGA continues to supply Tecovirimat pursuant to its contract with the Biomedical Advanced Research and Development Authority (BARDA), and is able to pursue what it believes is a meritorious appeal of a pending Delaware Chancery Court proceeding.
From the 8k:
1. SIGA anticipates requesting an appeal of the determination of Nasdaq pursuant to the Nasdaq Listing Rules. SIGA’s common stock will remain listed on the Nasdaq Global Market pending the outcome of the hearing.
Siga Technologies Inc., the biological warfare defense firm supplying the only smallpox drug for the U.S. strategic stockpile, filed for bankruptcy to avoid paying a court bond after losing a contract lawsuit and to preserve its ability to make the medicine.
The filing allows Siga to challenge an expected damages award to competitor PharmAthene Inc. (PIP) of as much as $232 million without posting the bond, Siga said in a Chapter 11 petition today in Manhattan bankruptcy court. The move ensures Siga can continue supplying the drug, called Tecovirimat, intended for use during a possible biological terrorist attack, Siga said.
Enforcement of the expected judgment in favor of PharmAthene “would threaten Siga’s viability, its ability to produce and deliver our smallpox drug,” Siga Chief Executive Officer Eric Rose said in a statement today. “We remain committed to performing under Siga’s contract.”
Rose said Siga can get the damages reduced on appeal by challenging the way they are calculated.
News on Think or Swim has a blurb by Kevin Kingsbury echoing your thoughts. He states that unlike companies with bloated balance sheets or slumping sales companies like Siga will use chapter 11 protection to provide an environment from which to persue legal action. ..in this case siga could continue their appeal efforts with protection from the bankruptcy court against PIP seeking damages. Kingsbury says this could be a good thing.
By all accounts, contracting dengue fever is a harrowing experience. Chris Dwyer, formerly of CNN and now a Hong Kong-based communications consultant, contracted dengue while on vacation in Malaysia in July.
Back in Hong Kong after a few days, Dwyer found himself unusually lethargic in the afternoon. The following day he had a fever and a temperature, which got progressively worse.
"By the onset of that evening I had appalling pain in my joints, really achy, weak limbs and just a sense that I wasn't well at all," he said. "This was unlike anything else, it was so debilitating."
Eventually, he was admitted into hospital and eventually recovered. where he was put on a drip while doctors monitored his liver and white blood cell count.
"As far as I understand it I was lucky... there are other symptoms that I've heard are pretty gruesome," he said.
While dengue fever is not transmitted human to human, the Japanese health ministry said that domestic mosquitoes could have picked it up from people infected abroad. Almost half the world's population lives in high-risk countries, the WHO says.
Last year, Singapore suffered a sweeping epidemic, which saw four die of the disease and over 12,000 become infected.
Takeshi Kurosu, an assistant professor at Osaka University's Research Institute for Microbial Diseases, said that the Tokyo outbreak was most likely imported into the country by an infected individual, who then transmitted it to domestic mosquitoes.
"Probably one person who was infected outside Japan went to (Yoyogi) park," he said. "It's possible that there was an infected mosquito (transported to Japan) in a bag, but the patient numbers indicate that it was likely an infected person."
He says that it is likely that there have been previous, small and undiagnosed outbreaks in Japan before, but this one was flagged by a doctor who had experience spotting the symptoms of the virus....
CNN reports over 55 have come down in Dengue in Japan over the last week. Unlike other area where Dengue is endemic and there is not perceived to be adequate resources to fund purchase of treatment, Japan undoubtedly has the cash. Does siga have the goods?
As the World Health Organization (WHO) warned of the potential increase of dengue fever and other climate-sensitive illnesses, Japan saw an almost-seven decade streak of being dengue fever-free end.
In the past week, at least 55 people have become ill with dengue fever, confirming fears that the fever, last seen in 1945, is back.
The cases have one thing in common -- those affected all appear to have visited Yoyogi Park, one of Tokyo's largest outdoor spaces, and all have complained of mosquito bites.
Following fumigation last week, the health ministry and Tokyo metropolitan government trapped and analyzed about 100 mosquitoes from the park and, found strains of the virus, prompting authorities to close large parts of the park as of Thursday afternoon.
This week, two models, Saaya, 20, and Eri Aoki, 25, who were filming for "King's Brunch," a variety show, in the park, were struck down with the virus, the Nikkan Sports newspaper reported.
CDC: 'Window is closing' to stop Ebola WHO: Coronavirus 'threat to the world' Pakistan struggles with Dengue fever
The dengue outbreak in Japan has seen victims from the age of 10 to those in their 70's. While most people recover within a week, the disease can create discomfort and and can, in rare cases, cause death.
The disease, which is mainly transmitted by a type of mosquito (Aedes aegypti), is found in tropical and subtropical climates worldwide. Symptoms include fever, severe headache, rashes and pain behind the eyes, muscle and joint pain.
Levon Resources and the Zinc Renaissance – Right Time, Right Place
September 2, 2014 by Christopher Ecclestone
The Canadian market, once a great happy-hunting ground for zinc plays, has been seriously denuded. Our favorite play had been Donner Metals until it was subject to one of the foulest manouevres in recent times at the hands of Glencore, the 800lb gorilla in the zinc trading space. Then there was the interesting asset that Tamerlane Ventures had until it fell afoul of the atrocious markets. Now our attention is on names like Levon and Canadian Zinc in the up and comers.
While we would have said last year that all portfolios should contain a zinc junior, we would have been a voice crying in the wilderness. Now the tide has turned and we suspect few would argue that most should have at least some exposure to this resurgent metal.
Zinc And Nickel Prices To Move 'Dramatically' Higher Next Year Says Scotiabank
Sep. 4, 2014 5:29 AM ET
Patricia Mohr is Scotiabank’s Vice President of Economics and Commodity Market Specialist who, in 2012, won the Metal Bulletin Apex award for the top gold and overall precious metals price forecasts when she was 99.63% accurate in her call on the price of the yellow metal that year.
Yesterday, she published a succinct report noting that a cyclical recovery in base metals was underway and that zinc and nickel were setting up for dramatic price returns in 2015.
September 4, 2014 7:04 AM
Tracking Down Smallpox Before It Kills Anew
Do more samples of the virus lie hidden in labs? Pay scientists who find them.
The smallpox virus particle. Photo: Corbis
By KENNETH BERNARD And KEN COLEMAN
Ebola is now the infectious disease of international concern, but many have forgotten what a massive killer smallpox once was. Before it was declared eradicated in 1977, smallpox killed as many as 300 million people in the 20th century alone—far more than all the wars of that century combined. The danger is that it could become a killer again.
Chimerix appears closer to FDA approval than Siga at this point. ..further evidence that future sales for 246 were NOT a lock as Parsons latest crapshoot opinion suggests. There is real competition in the antiviral space for pox infections.
Chimerix and BARDA Announce Continued Partnership In The Development Of Brincidofovir For Smallpox, $17M Award
Chimerix, Inc. (Nasdaq: CMRX), a biopharmaceutical company developing novel, oral antivirals, today announced an award of $17.0 million through the extension of its contract with the Biomedical Advanced Research and Development Authority (BARDA) for the development of its broad spectrum antiviral brincidofovir (BCV, CMX001) as a medical countermeasure to treat smallpox. Chimerix received the initial award in February 2011 which supported early research and development of brincidofovir in animal models of smallpox (Contract Number HHSO100201100013C). This contract extension provides an additional $17.0 million to Chimerix for a period of 15 months, and will support Phase 3 trials expected to initiate in the second half of 2014.
M. Michelle Berrey, MD, MPH, President, CEO and CMO of Chimerix, said, "We are pleased to announce the continued development of brincidofovir with our partners at BARDA. If positive, data from these animal studies will support Chimerix's regulatory submission for brincidofovir for the treatment of smallpox, which could potentially allow brincidofovir to become the first medicine approved in this area of high unmet need. This work complements the ongoing brincidofovir clinical programs for prevention of CMV infection in transplant recipients in the SUPPRESS trial and for the treatment of life-threatening adenovirus infection through the AdVise trial, both of which also represent areas where new antiviral therapies are needed."