You people are acting like Google just failed! Is the failure of Affy a shock to anyone? Really??? This was a high risk, high reward stock play - the equivalent of buying a lottery ticket. I plan to let my investment ride - all $15K - because I have something called a PORTFOLIO with other assets that are doing well, plus I flip real estate, plus I'm a hard money lender (P2P lending is the future!), etc. If it goes BK, I will use the loss as a much needed tax write off. Now, you may return to pointing fingers, placing blame and generally wailing and gnashing of teeth BUT I wish you wouldn't.
You bought 100K at .74 cents which just happened to be the 52 week low? Wow, good for you... duh
A license is an agreement, not ownership. I know you will respond with a ton of words but your words cannot change this fundamental fact - Affy own O. Takeda does not own O.
The correct answer and plain truth is Affy OWNS Omontys. Takeda does NOT own Omontys. According to the Affymax, Inc. Form 10-Q filed with the SEC on May 9, 2013, "...Takeda assumed full responsibility for OMONTYS...". "Full responsibility" is not ownership. If you disagree, show me an actual document that states that Takeda owns Omontys.
For the sake of argument, let's agree that your $600M figure is correct. Now that that is off the table, please answer the central question - why would Takeda risk losing O to another suitor in bankruptcy court? If that happens, all of these many months of trying to clear O to return to the market is for nothing wouldn't you agree? In my opinion, a buyout is inevitable.
Let's focus on your point no. 3 - You say Takeda buys O in bankruptcy "at the best price possible". What if Takeda is outbid for O in bankruptcy? After all, everyone (Amgen, Pzifer, etc) likes a good price. So, my point is (and has always been) that Takeda must buy Affy (ergo O) whether it returns to the market or not to protect it's nearly $1billion investment.
My hope is for no more positive news regarding AFFY until we get THE NEWS. No more positive Seeking Alpha stories, no more positive posts from hardcore longs, no more positive anything regarding Affy.
Let the shorts slam Affy like the Hulk slammed Loki in The Avengers movie until the REAL NEWS comes out.
Affy going up to $2 on NO NEWS and, now, Affy falling on NO NEWS is NOT NEWS. Since I have bought all that I am going to buy, I just want THE NEWS either way. GLTA!
I am also buying Freddie Mac (FMCC). Both Fannie and Freddie are in receivership but in 5 years or less, I will be buying my dream car (1989 Porsche 911 SC) to add to my toy box, thanks to Freddie.
Even if Affy is not approved for return to the market by FDA, Takeda still must by Affy to protect IP that went into creating O. So either way, Affy is worth something.
Perhaps he has to pay his kid's college tuition or his wife's AMEX bill or both and he cannot wait for the stock to "skyrocket". Bottom line: The Director selling and Affy skyrocketing are not mutually exclusive. In other words, the Director selling does not make Longs FOOLS.
16,540 shares x $1.92 = $31,757. Hardly a king's ransom. To me, it appears that the Director was ready to move on. Nothing more. Perhaps you should follow his lead.
Volume is already better than Friday. I try not to get too excited but this run is pretty amazing!
Sentiment: Strong Buy
I kept a couple grand out of Affy for when it drops below $1. Now, I think those days are behind us. My new strategy is to buy after it hits $2. I predict that there will be a strong pull back at $2 before a strong surge back to $2 and beyond. All or nothing! All or nothing!