AtheroGenics, Inc. (AGIX)

[JJdivini]

Good Morning buddy!

[MrBigz]

morning JJ

[JJdivini]

AtheroGenics, Inc., (AGIXQ) Plan Confirmed...

June 10, 2009;

The U.S. Bankruptcy Court issued an order confirming AtheroGenics'Second Amended Plan, as modified. Pursuant to the Plan, all property of the Debtor and its estate, including cash, will vest automatically in the post-confirmation Debtor and the liquidating fund on the effective date, free and clear of all liens, claims, and interests and without the need for the execution or delivery of any instruments of assignment, for the express purpose of, among other things, allowing the liquidating agent to make distributions to holders of allowed claims pursuant to the terms and conditions of the Plan. Without limiting the foregoing, the post-confirmation Debtor will be vested with all of the Debtor's previously unsold remaining assets (including its causes of action), which will be administered, liquidated, prosecuted, settled and enforced under the direction and control of the liquidating agent. This research-based pharmaceutical company filed for Chapter 11 protection on October 15, 2008, listing total pre-petition assets of $103 million.

[LB]

.

[LB]

Why no posts for 11 days? They're still talking on Yahoo.

[The Night Stalker]

no sir, lets do .0125 as a safe load point, volume is light

[berta]

Iron SPNG is getting interesting BUYOUT is a real possibility i believe

[Iron Maiden]

OT: Walker et al

WPTE - World Poker Tour .42 x .43

Rumoured buyout of $1.50 coming....

Do you DD but may be worth a gamble IMO

[Arnold25764]

Doesn't make any sense if they stated shareholders aren't gettin' anything after they sell the company???? IMO

[MrBigz]

AGIXQ pinching

[berta]

Maybe it ain't TOAST can't sell at a loss NOW who Knows maybe there is a buyer after all, and Holders will benefit. PEACE

[mr page]

I don't get it. Why is the price moving up? This is toast right? Brokers should not be trading these share.

[berta]

looks like we might not be done afterall a little rebound from the low doesn't seem to be a massive selloff havent given up hope yet!!

[richboy1]

YEAP this ones done

[Arnold25764]

Well here is your answer folks. It appears there will be nothing left for shareholders...IMO


AtheroGenics Provides Update on Bankruptcy Proceedings
No Proceeds From Liquidation Expected to Be Available for Shareholders

ATLANTA, GA--(MARKET WIRE)--Jan 22, 2009 -- AtheroGenics, Inc. (Other OTC:AGIXQ.PK - News), a pharmaceutical company focused on the treatment of chronic inflammatory diseases, today provided an update on its bankruptcy proceedings, during which it expects to sell the company and/or its key assets. The date to receive initial offers from potential purchasers of the Company's key assets has now passed and the Company and its financial advisor, Merriman Curhan Ford & Co., have concluded that the amount of the expected sale proceeds when combined with its cash on hand will be substantially less than the Company's outstanding liabilities. Therefore, the Company believes there will be no proceeds available for distribution to its shareholders. The Company cannot predict when the bankruptcy proceedings will be finalized.
Related Quotes
Symbol Price Change
AGIXQ.PK 0.0550 -0.0250
Chart for ATHEROGENICS INC #
{"s" : "agixq.pk","k" : "c10,l10,p20,t10","o" : "","j" : ""}

Disclosure Regarding Forward-Looking Statements

Statements contained in this press release that relate to events or developments that we expect or anticipate will occur in the future are deemed to be forward-looking statements, and can be identified by words such as "believes," "intends," "expects" and similar expressions. AtheroGenics cautions investors not to place undue reliance on the forward-looking statements contained in this release. In this press release, the Company predicts that the sale of the Company and/or its key assets will not exceed the liabilities owed to the Company's creditors, which would result in no proceeds ultimately being available for distribution to shareholders. This and other such statements are subject to certain factors, risks and uncertainties that may cause actual outcomes to differ materially from those referred to in such statements. The Company cannot predict with certainty the ultimate amount that will be realized from the liquidation of its assets. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

[Arnold25764]

Damn, This one took a tumble! IMO

[berta]

Anyone care to explain why the stock had a small rally in the afternoon?????

[berta]

AOK thanks I'm holding here GOOD luck

[Iron Maiden]

Bert... I sold this morning at .07 after seeing the PR ... I will wait and watch to see what happens...

SPNG scares me... been there done that situation too many times...hard to tell if management if blowing smoke up our arses or not. That smells like CMKX more than any other stock I've seen and even tho I did well on CMKX...the whole thing was a huge scam ... Good luck my friend, I hope it works out in your favor

I am playing NBS and MDLK right now ...

[Iron Maiden]

Bert... I sold this morning at .07 after seeing the PR ... I will wait and watch to see what happens...

SPNG scares me... been there done that situation too many times...hard to tell if management if blowing smoke up our arses or not. That smells like CMKX more than any other stock I've seen and even tho I did well on CMKX...the whole thing was a huge scam ... Good luck my friend, I hope it works out in your favor

I am playing NBS and MDLK right now ...

[berta]

Iron Do you think this is toast looks like there is still some hope BY THE WAY SPNG looking good

[shakerzzz]

hold on teaching lispy how to swing skf lol

[Iron Maiden]

WHICH ONE???

[shakerzzz]

THIS boatzzz getin ready to turn around

[Iron Maiden]

Been watching that one too ...thanks ...!!!!

[Walker]

OT: If you like that I would get some XYTS quick. Much cheaper and 6 mil. float all in long hands.

[Iron Maiden]

OT: NBS Stem cell play starting .... I moved my AGIXQ proceeds into that one ...

.70 x .74 with a $2-$3 target short term...

Obama is going to reverse ban on stem cells

[Jitz]

maybe some havent read the news yet?
did the company have to release this? maybe its normal to have initial low offers?
watching this very carefully now

[goldwingeurope]

Yes, don't understand.

[Walker]

Actually some buying at the ask - strange

[goldwingeurope]

Was just thinking the same!

[Jitz]

i am out tooo, substantially lower did not sound good maybe there could be a bidding war, very risky now

[Walker]

Surprised it isn't dropping more.

[Iron Maiden]

I'm out at .07 ...sorry guys...looks like our 50-50 shot just went the wrong way...

Watch for a bounce play .... :(

[goldwingeurope]

already sold in the 1 min!

[Walker]

Just did - not good.

[goldwingeurope]

Did you reed today' PR????

[Walker]

Cash still basically the same.

[goldwingeurope]

http://ir.10kwizard.com/filing.php?doc=1&attach=ON&ipage=6081726&repo=tenk&source=1302

[learning as I go]

Thanks IM, I'll check it out

[Iron Maiden]

hope so....

OT: ... Picked up some NBS today on a stock guru friends recommendation ...

Stem cell co - very low O/S

The guy who recommended NBS I would trust with my kids and he knows what he is talking about

[learning as I go]

down day today eh?
get the rebound tomorrow

[Iron Maiden]

Bid is getting stronger ...now 2 @ .10 and 1 @ .095

[cqrtdoc]

Your post is inaccurate, because your information is in error...

[goldwingeurope]

Clock is ticking here, let's get some action......!!!!!

[ddabetsmallwinbig]

Their Phase 3 drug is what got them in trouble. They had two drugs. The first one was a dud and their supportors dumped them which started the slide. The second drug did not meet primary endpoints but did show some promise in other areas. The results are thin at best. Unless the research has some intrinsic value this looks like a long shot. The drug pipeline thing is a hard one to follow. A strong Phase 1 and phase 2 trial (Ie: 3% - 5% ) improvement over placebo is a sure prospect but this one is bordering on the .5% area and may be passed over by the prospective buyers. Unless AGIX can provide some kind of catalyst for improving the numbers they might go home with empty pockets. Watch the news closely.IMO

[ddabetsmallwinbig]

Interesting News....

01/16/2009 00:01:00 AM
AHC Media LLC

J.P. Morgan Healthcare Conference

SAN FRANCISCO - At the 27th annual J.P. Morgan Healthcare Conference, discussions from the crowded hallways to the private meetings rooms predicted that biotech is in for a year of consolidation, but that the industry will emerge leaner and stronger.

The consolidation is well under way, as evidenced by the bankruptcies of biotechs like Introgen Therapeutics Inc., MicroIslet Inc., AtheroGenics Inc. and several others - as well as by mergers and acquisitions proposed by Cephalon Inc. with Ception Inc. The Medicines Co. with Targanta Therapeutics Corp. and Endo Pharmaceuticals Holdings Inc. with Indevus Pharmaceuticals Inc.


http://www.hoovers.com/free/co/news/detail.xhtml?ID=100118&ArticleID=200901160001AMERHC__NEWS_____b565002a1e97a679_AH&source_type%5B%5D=

[Arnold25764]

When do you think they will post news about the buyout? How much you think per PPS or possiblility to take over another companies shares?

[Walker]

No FDA approval before buyout - we are here for the buyout only.

[richboy1]

thanks