I just said it was looking good that day. 10 percent in one day looks good to me! Just gor a reverse split on ACTC, it may be a real stock now. It was fun having 100000 shares of something for a while. Keep an eye on it, macular degeneration is a huge market, but they will have to keep their finances straight.
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.
I bought a powerball ticket and I expected to win. Someone else picked the right numbers and I didn't, so I will sue them for half of the winnings because I expected to win!
Pip should have got the breakup fee specified in the merger agreement and that is it. And it should have been done years ago. What we have been witness to these past years is the effects of corruption in action, thus the incredibly long time this has and will continue to drag out unless the DSC throws the case out on appeal.
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.
Drod, the break-up fee from Siga to Pharmathene is listed under Fiduciarty Out in the Merger Term Sheet. I think it is there to penalize Siga if they partner with another compmpany. It is 3% of the total Siga value.This is what should have been paid if anything, and it should have been done years ago. Parsons is either a #$%$ or a dolt.
Well since Pip themselves labelsedthe LATS NON-BINDING, there really was no agreement at all and SIGA had a right to start the negotiation on what ever terms they thought they could get.
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.
"Parsons has been clear that were it not for acts of bad faith by SIGA, PIP would have possessed rights to ST-246"
This is one of the opinions where he is in error or paid to support this flawed view. Pip can't even get their own product to market and they even sent a fraudulent letter to the FDA. I guess the worst thing about Pip supporters are that they don't even know that they are backing the real crooks.
And Parsons already ruled it was too speculative. Frwd, you seem to be intent on supporting the incompetence and snail like pace of Parsons. Why? Have you become too emotionally involved with pip? You better prepare for the long haul, because this is going to take years before it is over. I prefer to root for the honest underdog group of scientists rather than the ambulance chasing team at pip.
And your "objective third party" was hired by pip and completely one sided, and history is showing him to be wrong.
"Rather than trust management at either company, I put my trust in judicial findings of jurist, who sat as member of DSC for appeal on based on Daubert standards, and who is 2nd longest serving member of the Delaware Chancery Court."
And you forgot to add, is the slowest, most biased member the Chancery Court has ever seen!
Come on Golong stick around, your drtx worked out and some of us did well on tsrx because of your heads up. Just because you are a Pil/Parsons sympathizer doesn't mean your viewpoint isn't valued. Got any more antibiotic plays?
Thanks Golong, like Drod, I had CLSN too. You told us before data came out that you sold on the runup and I could have too and done very well, but I held through the data and you know what happened there. I must admit that you advised not to hold through data so you get a plus mark on that one not a negative mark as indicated by Drod. My biggest holding now is IDRA which so far has not been good, but I am ready to give it a few years. I also have CUR and INO.I wonder where Siga would be right now had it not been for Pip/Parsons dragging them down.
Drod, I think you miss-identified the problem. They haven't blown enough hot air for the last ten years. You are right though, small investors don't get any respect from this management.