Myrexis, Inc. (MYRX)

[Phaedrus77]

It wasn’t included in the last bill. I don’t know what the democrats think of it.

[aquaspin]

Do you know if the monetization of tax credits will take place under Biden and democrats? This could be huge for both $MYRX and $ENZN (which MYRX owns 1.4% of)

[aquaspin]

MYRX recently bought 1.4% of ENZN so that could be the reason. Huge bid support here too

[rmclau4493]

Large block here and ENZN had a great day. Makes you wonder

[aquaspin]

Nice MYRX volume today. Nice grab by someone. Big blocks of shares like that are hard to come by.

[aquaspin]

It's strange because I can't seem to find anywhere besides Yahoo message board that is talking about AFFY. And even then there isn't much chatter there.

Wonder if there will be more interest in companies utilizing these NOL shells if Biden were to get elected and raise the corporate tax rate to 28%

I also bought MYRX below cash value. Couchman aquired his shares for .035 which was a discount at the time. I like that MYRX still has 10 years before the NOL's begin to expire

[Phaedrus77]

No idea about AFFY’s run. I assume someone is pumping it or the momentum crowd has gotten involved. It’s obviously overvalued imo.

I bought MYRX because it was trading at less than cash, so the nols were basically a free lottery ticket. Absent a deal being announced, I’d have a hard time holding if it was at AFFY’s level.

[aquaspin]

What do you suppose is up with Couchmans other shell stock AFFY? People keep piling money in the .20's
Hopefully MYRX will have a same market cap run. That would be about .50 or so for MYRX to have same market cap as AFFY.

AFFY also had an ownership change. Do you know what percent of their NOL's can be utilized due to this?

[aquaspin]

Thank you for the informative post! It would be great if the new stimulus allows monetization of tax credits.
Sine MYRX has $3 million worth of them, that would essentially double the value of the stock to at least .10
Since MYRX owns 1.5% of ENZN, that would add nearly $240k to the value of MYRX.

This doesn't include the ENZN share value or the value of the $147 million of NOL's that MYRX has.

Seems like lots of potential here

[Phaedrus77]

MYRX has $3 million of tax credits, so they’d get a $3 million refund IF the new stimulus allows for the monetization of credits.

ENZN has $15.8 million of tax credits.

Here’s a WSJ article from July.

https://www.wsj.com/articles/corporations-seek-tax-credit-cash-out-in-next-coronavirus-relief-plan-11595237402?mod=hp_lead_pos7

[aquaspin]

Interesting. What would that mean for MYRX? I will have to see if I can find that article

[Phaedrus77]

Would be nice if the stimulus bill currently being negotiated allows companies to monetize tax credits. There was talk of that possibility earlier in the summer.

[aquaspin]

$MYRX .0422 x .044 Tight spread. Will go one way or the other soon. Still wondering why MYRX is buying shares of ENZN. Icahn will most likely be utilizing that one

[aquaspin]

TDA showing pre market volume of 10k shares for MYRX. Never seen pre market volume before

[aquaspin]

MYRX - Article showing that MYRX could be valued at $30-$40 million (current market cap is $1 million)
It's an older article from when the PPS was .14 but it's a good read:

https://www.valueinvestorsclub.com/idea/MYREXIS_INC/2414750439#description

[aquaspin]

Couchman’s AFFY vs MYRX:
Couchman owns:
5% of AFFY
20% of MYRX

AFFY $17 million market cap
MYRX $1 million market cap

This year MRYX has been buying shares of ENZN and now owns 1.5% of that company so far.

To match AFFY market cap, MYRX would be trading at .60 from its current .04 PPS. Huge opportunity here!

[jjr04001]

.054 is on the ask.

[jjp2516]

Outstanding. Best to you

[aquaspin]

I think MYRX has more potential than AFFY. Couchman owns 20% of MYRX and 5% of AFFY. MYRX has $147 million NOL's. AFFY has more but it had a previous ownership change so it's NOL's are limited.
AFFY market cap is $11.5 million while MYRX is only 1.2 million. MYRX is buying shares of ENZN stock and currently owns around 1.5% of ENZN.

I own 3% of MYRX myself with bids in at lower levels to buy more.

[IU]

This stock has nothing to do with resistance level. It’s a lotto ticket for reverse merger. Although it’s sister Affy gone up 1000% on no news

[aquaspin]

Wonder what level 2 looks like? I know MYRX has lots of bid support. I remember seeing a 500,000 bid at .018 a little while back. Would be nice to see .035 taken out as that looks like recent resistance level

[aquaspin]

I think MYRX could see a nice run. Couchman owns 20% of MYRX and only 5% of AFFY.
MYRX also has cash left which they have used some to recently buy shares of ENZN stock. I'm sure those share purchases have gotten the attention of Icahn. MYRX has $147 Million of NOL's

[jjr04001]

Run coming here?

[aquaspin]

$MYRX .035. What do you think of Couchmans other shell $AFFY running to .18? Hopefully MYRX has a similar run. I own over 1 million shares of this.

[Special Situations]

Myrexis, Inc. (MYRX) - Institutional Ownership.


Gabelli ABC Fund.
Shares: 433K

Form NPORT-P (Monthly Portfolio Investments Report).
Filing Date: 2020-02-26

https://www.sec.gov/Archives/edgar/data/893783/000175272420037816/xslFormNPORT-P_X01/primary_doc.xml


Gabelli ABC Fund.

- The Gabelli ABC Fund’s investment objective is to achieve total returns that are attractive to investors in various market conditions without excessive risk of capital loss.

- The Adviser focuses the Fund on arbitrage strategies – investing in event driven situations such as announced mergers, spin-offs, split-ups, liquidations and reorganizations – and may hold a significant portion of its assets in U.S. Treasury bills in anticipation of quick non market correlated opportunities.

- The Fund may also invest in value-oriented common stocks and convertible securities.

https://www.gabelli.com/Gab_pdf/factsheets/408facts.pdf

[aquaspin]

MYRX - CEO bought his 7 million shares for .035 which was a discount at the time. Undervalued here

[aquaspin]

$MYRX volume. Huge 450,000 bid at .0165

[aquaspin]

Do you still follow $MYRX? They recently bought 660,000 shares of ENZN for $92,000 that is now worth $115,000. It looks like it was a partial fill too which means MYRX is bidding for more shares.
Very interesting

[aquaspin]

I'm pretty sure ENZN and MYRX will always be separate entities. Carl Icahn owns around 16% of ENZN. There is speculation that he may utilize that shell after all the royalties have been paid out. That could be many more years though if SESN's bladder cancer drug is approved this year.
I think Couchman must think he can get a good return for MYRX buy using some of its $1M cash to buy ENZN shares. MYRX bought 1.4% of ENZN so far at .14 a share. It's already a decent return since the price is .18 now. The MYRX website that was updated a year or so ago states:

"Myrexis, Inc., headquartered in New York, New York, is in the process of evaluating strategic alternatives, including focusing on identifying, evaluating and making financial investments in life sciences assets."

I own shares of both companies. I think both of them will be utilized.

The board members of both ENZN and MYRX have vast knowledge and history of being involved with utilizing NOL shells

[bb money]

Check out their recent filings and you will see it there.

[Paullee]

where are you finding this info? any links, I can't find it

[bb money]

Just trying to figure out the benefit to linking the two essentially. Other than the royalties, they are both just NOL shells. Any ideas what benefit there would be in tying the two together? I guess I just don’t see the plan there. For example, if ENZN were to acquire someone or be acquired what good would that do MYRX other than the appreciation of shares they own of ENZN? Is there a way they could combine these entities into one and keep all NOL’s?

[aquaspin]

I think most of ENZN's current royalties are pretty much done. SESN .55 has a bladder cancer drug that has been submitted to the FDA for review. It's expected to get fast track approval. This would give ENZN new royalties.
Both ENZN and MYRX are debt free with cash and valuable NOL's
I believe ENZN has around $15 million cash and $100M NOL
MYRX has about $1 million cash ( which has begun using to buy ENZN shares) and has around $150M of NOL's
Couchman already owns 20% of MYRX and has been buying shares of ENZN which he is up to around 16% now.
Couchman has a proven history of utilizing NOL shells for reverse mergers.

[bb money]

Any thoughts on what the plan may be? Both are NOL plays, correct? I realize ENZN has other potential with royalties and possible additional future royalties depending upon an ongoing trial. I believe he is involved with both MYRX and ENZN. Just not sure what this might mean if anything.

[aquaspin]

It makes sense that MYRX owns 1.5% of ENZN so far. There are still large bids hiding on ENZN so I think this is just the start of MYRX buying shares of them. MYRX had over $1 million of cash at last filing with basically no expenses since the CEO is only paid like $1 a year or something like that.
Good to know MYRX is waking up for the first time in 7 years!

[Special Situations]

ENZN NOL: $100+M


ENZN - Enzon Pharmaceuticals, Inc.

FORM 10-K (For the Fiscal Year Ended December 31, 2019).

https://www.sec.gov/Archives/edgar/data/727510/000110465920022802/tm205379-1_10k.htm


"At December 31, 2019, the Company had federal net operating loss carryforwards of approximately $101.6 million, of which approximately $100.6 million will expire in the years 2025 through 2036, and New Jersey state net operating loss carryforwards of approximately $23.9 million that expire in the years 2031 through 2039."

[aquaspin]

MYRX bought over 660,000 shares of ENZN last month! First filings since 2013 and no one noticed!

[surfingbear]

Thank you for your posts. I haven't been able to locate this article, could you share it please if you have it?

[Paullee]

thx, didn't know anyone else cared

[ElementaryValue]

My write-up on MYRX can be found here;

www.elementaryvalue.com/blog/myrexis-inc-myrx-another-couchman-nol-stub


Applying a 21% tax rate and assuming only 25% of the NOL's get monetized yields an intrinsic value of around $0.21 per share.

Over 9x the current share price.


Sooner or later something happens here. It's just a question of waiting.

[Mad Money Monkey]

Kickin the tires here. Looks interesting, but stagnant. If it is merged as a shell for the NOL's, this could rocket several hundreds of % and would likely happen suddenly. Not seeing any reference to the current SS, since 2013. Any info that would make sense tying up some $ in this right now? Emails from the co or Couchman? What's the general consensus on this Couchman? Just starting to DD him. TIA!

[bb money]

Don’t understand the way this trades.

[UpTickMeA$AP]

Waiting. Nothing to talk about here until they make a move...IF, they make one. Could be years away still.. This play is a pure wait and watch.

[Paullee]

where is everyone ?

[bb money]

What is interesting is the increased activity on this board. Where did all these folks come from? If it is in response to the SA article then it is likely the same reason volume has slowed.

[eagleeye1]

Interesting that there's no activity today... Really slowing down recently.

[aquaspin]

The company also revamped their website in December. It mentions investing in life science assets so that means they probably still have their $1.1 million in cash. Also, I will have to dig through the old filings but it's possible that the company could get a AMT credit refund under the recent tax overhaul. This would provide $MYRX with more cash for investing.

Great potential here, especially at this price!

[SAPer]

Net operating loss. It can be used to reduce corporate taxes going forward for a number of years. But there are rules associated. So if the NOLs are high enough, 150 million in this case, then a company could operate tax free for a while.

[RiskyRewards]

what is an NOL

[aquaspin]

$MYRX should be over $1 since it has $147 million NOL's. This will gap up so much when news comes out IMO