Stupidest post ever by az-driker, Hellen Keller was extremely intelligent and a great communicator despite her situation.
Relying on its expert, Dr. Peck, PharmAthene also contends that, to the extent there has been a delay in the sale of ST-246 relative to Baliban‟s projections, the delay is a function of SIGA‟s failure to develop the drug efficiently or properly due to its lack of experience in commercializing pharmaceuticals. But for SIGA‟s breach, PharmAthene would have controlled ST-246‟s development. According to PharmAthene, it would have used its experience to develop the drug more expeditiously.
Just like PIP is doing with sparvax and sending fraudulent letters to the FDA?
Sorry Drod, I am screwed on this one too but will still hang in there. To me, Parsons is the real villain for letting this languish in his court for years and not using any common sense. He has to be getting something under the table from pip to be so one sided. Last time Siga went this low I bought more and sold it when it doubled, but I still have some of my original more costly shares.
What is being overlooked fwd is that if Pip had taken over and sacked Hruby as they intended, there is little chance ST-247 would have made it far enough to be eligible for a BARDA contract. Look what they have done with their own Sparvax, they can't get it to market and were even accused of fraud by the FDA.
You depend too much on what Parson's says while it is clear he is enormously biased.
fwwdlook, 300m? Siga only has 100m and I doubt they would have to give away all the cash. Appeal to SC is coming. Sell your Pip now on the spike and buy Siga on the dip before reality sets in. Parsons decision is shakier than it ever has been.
You should try to extend your frwdlook time frame to more than a few hours or days. Comeback after the appeal to give me another kick!
Sentiment: Strong Buy
Parsons was trusted to do a job expediently and fairly. He did neither. I am tired of lazy incompetents, unless of course he is merely dishonest. I knew just as well as you did that the flounder would rule for Pip, but I thought that was baked in the price
You are correct Drod. Meanwhile Pip will languish, still not realizing any cash and Siga will move on silently as always. In my opinion (which has been wrong when it comes to Siga every time), Parsons latest decision is even less defensible that his first. Reversing his own opinion, allowing Pips expert witness to determine damages, using current data rather than data at the time of the breach but not taking into account current data regarding Pips lack of expertise in bringing their own product to market and corresponding fraudulently with the FDA, not to mention chimerix Issa etc.
Sentiment: Strong Buy
That was until he met them, they portrayed themselves as experienced professionals but when he started to work with them found out they were not, for proof look to how far they have brought their drug and the fraudulent letter they sent to the FDA. Parsons thinks this hinges on when Drapkin said that one way or another pip would get 246. The problem with that is that Drapkin had no authority to guarantee that on his own, and he is long gone. Instead of using common sense, Parsons has gone out of his way to milk Siga for Pip and I suspect there must be some sort of corruption involved whether instigated by Pip or maybe even Chimerix to stall the govt acquisition of the full amount of courses of 246. The fact is Pip is composed of good businessmen (though not ethical) and Siga is being run by honest scientists. Unfortunately, honesty almost always loses these days. I am siding with the facts presented by csmclemore but even with a win. Parsons has dragged this out so long that the investors have been the ones to suffer. Justice is not alive in Deleware.
Replace expectancy with ¨hope¨, because at that time that is all there was, and you are left with nothing. Since Parsons has decided it is ok for him to take into account what has happened after the fact, he should also look at the fact that Pharmathene was unable to get their own drug to market, was reprimanded by the FDA, and backed out of yet another merger. Parsons acts as if he is employed by Pip, it wouldn't surprise me, but it would surprise me if the Supreme's support this decision.
Sentiment: Strong Buy
Which company sent a fraudulent letter to the FDA? Marked the LATs with non-binding? Failed to negotiate? Bought a judge?
Only half terrible, what Pip says they expected was something that had a small chance of happening. Every biotech is going to be the next big thing right? What percentage of them receive FDA approval for their drug and successfully market it? Maybe Parsons should have included the disclosure at the end of all optimistic press releases as part of his value model.
And my main complaint is that if anything, Parsons should have made Siga pay the merger breakup fee specified in the merger agreement and that should have been it. And it should have been done years ago.
Hope you had a good summer Drod.
Parsons ignoring any pip errors or subterfuge is my complaint. Non-binding. Even though Siga threw a high ball to start negotiations pip did not counter with a low ball. There was a set merger break up fee. Parsons takes into account that the drug made it to market (soley through Sigas efforts) after the fact and ignores pips proven non expertise with their sparvax drug, pip even going so far as to send a fraudulent letter to the FAA. Something smells fishy here, too bad there aren't any investigative reporters anymore.