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From TL.net posted by 2primenumbers in response to post from andrewlt..
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“On October 23 2014 02:53 andrewlt wrote:
It's not really a big deal. These are the stubborn people who should be buying index funds but think they are awesome and can beat the market. It's the same type of people who ignore their doctor's orders and go look for alternative medicines from shady sites.
Well, look man it really is a big deal. You say that everyone needs to invest in an index fund like the greater good of humanity is more important than your own personal savings and wealth and ability to feed yourself in the future.
The index fund price level, just like the S&P and the Dow Jones Industrial can be very high or very low -- and that doesn't mean that Milk won't be $30/gallon 10 years from now, while the Stock Market and your previous index fund have only Doubled in value.
The thing is man that I don't want to de-rail from the topic of this video--- thousands of investors from those with $500 bucks to $millions are being misled by the intelligence gathered on YAHOO message boards.
The boards are carefully moderated to make it look like there is a fair discussion, with people who are both "for buying" and "against buying" but it turns out the moderatorship is sold to big-time investors by Yahoo!'s internet or marketing department. We can tell that YAHOO is selling the moderatorship of their message board as if it were an "online advertising medium" to secret corporate & Hedge Funds who are interested in misleading the average investor. Because of several reasons which I will elaborate in the next paragraph.
In the next moments we will learn the way that moderators are creating the illusion of a fair discussion on the YAHOO! Stock message boards.
The YAHOO! Message boards were widely considered fair and open. This is because it was assumed that "any asshole can post there" and therefore, anyone can have their voice heard. This means that interested parties on both the buy & sell side of a certain stock are, theoretically, being represented. But the truth is that YAHOO reserves the right to sell the moderator ships to interested investors. They did not prevent themselves from selling message board administration rights in their Terms and Services.
IT turns out that in the course of my personal experience posting on the message boards, I recorded a video of a time when my message that had a particularly strong buy-side argument was deleted right infront of my eye (and your eyes, if you watch the video)!
It shocked me. And it led me to unravel the following statement:
YAHOO's message boards, visited by thousands of users who seek counsel in making investment decisions, found to be selling stealth police rights to secret moderators.
Thanks for sitting with me.
Best Regards,
RG
P.S. I want to leave a little disclosure. I have no financial holdings in Yahoo stock, and I do not have any short interest neither. This is my take as a single and ineffably biased observer and internet participant.”
So Baupost & friends ran-up a dilution tab with KERX to the tune of +/- 120 million shares plus conv. notes, mostly financed by Baupost, to develop Auryxia and pay Madison and the rest of the senior mgt. crooks and BOD, enabling a HUGELY lucrative short operation turning good news into bad news at every turn, thru ‘shenanigans’ feeding off of label warning, manuf. halt, guidance withdrawal and other ‘trickery’ for years, while taking shareholders for a very long ugly ride, no to mention expanding and renovating offices, new exective hires etc. All the while, setting things up with ex-Sanofi execs to mislead a Sanofi buyout, bring Butler in and out of BOD, then merging with Butler, again, short trade operation allowing for profiting 100s of millions during all the years, shareholders getting reamed, and in the end, they stole KERX for 35 cents to the dollar. The entire process of years great big heist.
Funny, yesterday Duke from the RMTI board, who is also Dave from the KERX board, shows up here touting RMTI from $2s to $6s. Hey Dave, we have everything, including on RMTI, sit tight you POS. Anyway, have you noticed, AKBA at +/- 120 million outstanding just like KERX was, Baupost with 25 million AKBA shares just kike with KERX, and out of the blue POS Dave shows up tslking RMTI. You will remember me saying merger with RMTI, and a merger did happen, but with Butker showing up. Remember O/S of KERX and AKBA when merger announced, +/- 120 million KERX, bout +/- 50 million AKBA. So know , AKBA at +/- 120 million and RMTI at 57 million, They want Triferic to complete, remember, leading renal company, ring a bell.
So now the popeyes, the hooligus maximus’, the anonymous’, the Yoshka’s, u know, the ‘hooligan crowd’ surfacing here months after the merger. Hey Dave, got the info and history on KERX vis a vis AKBA and vice versa, including what was done to RMTI, you POS.
ALL, in my opinion only, as always
P.D. Notice how Duke eliminated the post from yesterday? You’re a punk Dave
After all these years, the cretin of all cretins spooledup still believes that science matters in the KERX/AKBA ‘criminal’ enterprise. Did KERX’s solid science prevent the company from being run into the ground and finally ‘stolen’? Every positive news was met with shennanigans, for years, starting with initial FDA approval back in Sept. 2014, the rest is history.
KERX/AKBA retail and small institutional/fund investors have been swindled and continue to be swindled — Kerx was ‘stolen’. If you want to know what the real source of the problem has been for years, check-out article below i.e. Rockwell, Vanguard, State Street, FMR (Fidelity) — Baupost has acted more as an ‘agent’ in the building of the infamous ‘major biotech company’ with KERX, AKBA and potentially others in the mix i.e. keep an eye on RMTI.
Folks, these people have been running a short trade manipulative operation for years at the expense of retail and small institutional/fund holders. They have funded development and operations of KERX/AKBA on the backs of unsuspecting investors, while recovering their own investment with short trade operation. In the end, KERX was ‘stolen’ and take a look at AKBA’s pps — retail continues to be held ‘hostage’.
The KERX/AKBA message boards controlled with ‘hooligans’ which work for and part of the ‘criminal’ enterprise to mislead and bamboozle investors who read the boards, for years. After having ‘stolen’ KERX, AKBA is just the continuation of the ‘criminal’ enterprise. Careful with AKBA merger with another company with same fate as KERX i.e. RMTI
ALL in my opinion, as always
https://steemit.com/news/@sione/these-big-four-companies-control-the-world-yet-you-ve-probably-never-heard-of-them
Just posted, “They want you to sell, they want all shares — greedy bastards” on AKBA board. And it was taken down on AKBA board.
Then tried post the AKBA post on the KERX board noting to KERX holders that the post had been taken down on AKBA board — and the post did not go thru on KERX board.
They’re trying to block my posts — thinking that, in addition to post on “they’re trying to get you to sell”, the OREX post didn’t sit well, kinda hit some chords.
They keep taking down or blocking posts — won’t see it coming.
ALL IMO
Dave 1 hour ago
“Catch me if you can Freddy.”
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DiCaprio gets caught and goes to jail you contemptible piece of feces — and you’re no DiCaprio.
Happy trails, Dave — see you where the sun doesn’t shine.
IMO
Poster GG is a pos — but the punk won’t last..
IMO
Michele, the following post was blocked. They block because they can’t handle it..
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@Michele The “hooligans” are easy prey. It’s called reverse psychology and you assisted me perfectly — unbeknowing.
Did you see how quickly “the snake in the grass” Dave/Duke came out to play from under his hiding? He’s soft and dumb, and he bites easily. Can get him to come out from under his hiding at will — like the other day with AKBA “ownership structure” and today with reverse. Then again, who knows, maybe good ole boy Duke’s Translate Bio, you know, Ron Renaud, Baupost owes Merck for Idenix deal, yada yada, comes to the rescue and acquires KERX.
But, Michele, nevermind the “snake in the grass”, take a look at the following concerning OREX “bankrutcy” from poster GAN on the OREX board..
(btw, Michele, am leading the charge — did you ever see the movie “The Devil’s Advocate”? Pacino — “don’t ever let them see you coming”)
GAN month
It takes so much of time, effort, science and billions of $s to get an approval for a drug like Contrave.
In fact the company spent almost 10 years and 800 mln $ to come this far.
During the past 2+ years of approval around 1/2 mln prescription were written and the drug had repeat nz
No Adverse events reported with any of the patients during this regimen.
With 100 mln + annual sales with patents validity till 2032 and 800 mln $ NOl I still believe the company is worth $300 mln at the minimum .
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GAN 27 days ago
No one knows if Baupost is part of the consortium bidding for the assets, if that is the case then the Debtor and major Creditors are hand in glove to thwart an open bidding. It is corruption to the core.
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GAN 2 days ago
I think the whole thing is fraud. They shorted at 1.40/1.50 during that spike from One account and covering it now to close out their position.
Sec needs to investigate this fraud perpetrated by both Orex executives and Baupost
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ALL IMO
The following, in my opinion, as always..
For those of you thinking that the “merger” might not happen, words of caution — it will happen. Folks, if anything, you must understand one thing. The “merger” is the path forward for the “mafiosos”, no ifs, ands, or buts — and the table has been set for Keryx Biopharmaceuticals, Inc. (the company) to disappear as we know it and re-appear under the name Akebia Therapeutics, Inc., along with Keryx’s assets. That whole pro forma mumbo jumbo of KERX shareholders owning 50.6% of combined company with AKBA shareholders owning 49.4% is nothing but a mathematical equation which means squat. Sorta like a mathematical ploy to sell KERX shareholders the idea that — you’re losing 62.57% of your holdings in the transaction, BUT, you now own majority 50.6% of the combined company. All 50.6% means is that, after “hijacking” some 97M of the 155M fully diluted KERX (conv. notes), the remaining 58M shares will be converted to AKBA shares which, along with AKBA’s current 57M O/S equates to MERGED AKBA at 115M O/S — KERX converted 58M shares represents 1M shares more than the 57M AKBA shares, so KERX shareholders own majority of combined company.
Yeah right, a croc (just goes to show the bamboozle continues, they don’t give a ......) — to begin with, as we speak and given the pps take down with “merger” announcement and continued “pressure”, suspect KERX ownership by Baupost, Abrams, and the “group” i.e. BlackRock, Vanguard, Fidelity, State Street etc. lies somewhere in +/- 75% range if not higher and increasing as/if KERX holders continue to sell, small funds and retail, potentially. So who exactly are the KERX shareholders which will own 50.6% of combined company? haha
As illustrated with post from a few days ago, AKBA’s current 57M O/S is locked-up by some +/- 15 entities (including 3 Big Pharma). When “merger” is executed, MERGED AKBA’s 115M O/S will be locked-up by Baupost & friends with Baupost being the major holders with 20%+ ownership.
Look Baupost, we the minority shareholders have been fkd. Many years invested and we have squat to show for it — and now the “merger”. Baupost and friends, IMO, have been making $$$ all thru the process of clinicals, approvals, and everything else employing annorgaized short trade operation. As posted to Michele yesterday, IMO, Baupost is riding free and even green. Baupost will own 24M new AKBA shares (KERX 61M converted + 4M free x .37433) or 20.8% of new AKBA 115M O/S — Baupost will own new AKBA 24M sgares plus whatever AKBA open market Baupost is buying as we speak. I’ll wager Baupost will end-up
owning no less than 40M new AKBA. After all, who’s to say no, it is Baupost who’s delivering the real worth to AKBA ?? Ferric Citrate turn-key ready already well into commercislization in U.S. and ready to light on fire in EU.
With the exception of a few, you people are like mummies. Thinking of switching over to the “hooligan” side — at least they drink piña coladas at Trader Vic’s and their hair is perfect. (those punks need someone like me, they suck at what they do, have singlehandedly exposed their stupid ahhhzzz).
Later — fu&$%%#
ALL above, in my opinion, as always..
@Michele Your post reads..
“I feel that we been kept in a trading range of $4 to $5 on purpose.”
That is exactly right, and kept in that range on purpose to keep KERX’s market cap in a range for a proposed “merger swindle” which was planned a while ago, in order words, by design — IMO.
But here’s the absolutely compounding “criminal” part of it all — IMO. Even with KERX’s manipulated artificial and by design market cap at $540M (haha), as per the “cooked-up” pro forma which takes KERX O/S of 120M multiplied by $4.48 closing price on 6/27/2018 day before proposed “merger swindle” announcement (haha)— even with KERX’s market cap at $540M and AKBA’s market cap at $590M (and this without considering Baupost conv. notes of 35.6M at $4.63 conv. price or addtl. KERX equity of $165M) — in order words, with KERX at $705M valuation vs AKBA’s $590M, from where do these “mafiosos” come-up with a conversion ratio of .37433 which makes it nearly the equivalent of 3 KERX shares for 1 AKBA share.? Oh right, AKBA has $400M is cash (haha). Oh really, and what are some 97M shares wiped-out with conversion ratio worth!
Not to mention, the difference between KERX’s science asset Auryxia approved in U.S. and EU, well into commercialization in U.S. — versus AKBA’s science asset still in clinicals, another $100s of millions needed to be invested to finish clinicals, years away from commercialization, and with a competing drug which will potentially be brought market 1-2 years prior because you have just recently delayed finishing clinical data read, also with strong clinical results, possibly a superior drug to yours. And to add insult to injury, at the other side of the transaction, KERX shareholders would face 100% dilution with their converted MERGED AKBA shares.
That is like if you had $1 million and I had $1 million, and in order to buy off your $1 million at the cheap (steal), I converted your $1 million to $373 thousand, then borrowed $373 thousand to add to my $1 million, proposed to merge you with my now $1.373 million, told you that in exchange for your $373 thousand I’d give you the equivalent to 50.6% of my $1.373 million in shares. (50.6% being the BS KERX ownership of “cooked-up” pro forma). So after you being wiped-out $657 thousand of your $1 million, in addition, you would have to deal with the $373 thousand in debt as part of the $1.373 million merged enterprise, which I borrowed to make you believe that your $373 million remaining is being compensated.
Michele, the “merger” is the swindle of all swindles, designed to purposely “hijack” 62.57% of your KERX holdings and “hijack” KERX the company and Auryxia its technology.
This monumental swindle will be fought off if insisted upon.
ALL above, in my opinion, as always..
UNABLE TO POST THE FOLLOWING ON YHOO BOARD, SEEMINGLY BLOCKED.
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Fellow shareholders, does it really matter who or what is behind curtain #3 in proposed “merger swindle”?
Scenario 1 — Fresenius behind piecing together a company.
Scenario 2 — Sanofi behind piecing together a company.
Scenario 3 — Neither Fresenius or Sanofi — and what’s behind is Baupost, Butler, Renaud (Translate Bio), Heiden (AMAG) all inter-related in the piecing together a company while signing agreements with Big Pharma. Bauposts interests would be aligned as financing arm as needed in exchange for amassing fortunes via trading activities, both, on long and short side. Butler, Renaud, and Heiden as bio execs arms to run company being pieced together with Big Pharma agreements (Madison is out and well “paid to play” IMO).
The relationship between Baupost and Butler is clear ever since Baupost injected Butler into KERX’s BOD and now with proposed “merger swindle. The relationship between Baupost and Renaud is clear ever since the Idenix deal and now with Translate Bio. The relationship between KERX/Baupost and AMAG/Heiden is clear with Greg Madison, Scott Holmes, Amy Sullivan, Melissa Bradford/Klug all joining KERX from AMAG. Additionally, you have Helen Milton, AMAG VP Regulatory Affairs, ex-KERX VP Reg. Affairs, who was in charge of Auryxia/FDA affairs and then switched over to Feraheme/FDA affairs, and other connecting dots.
There are a couple of “loose ends” that will be telling to complete picture once the outcome is known — 1)Who will be partner for Auryxia in EU and, 2) Who will be CEO of RMTI. Why RMTI? — because a potential AMAG/RMTI “merger swindle” a la KERX/AKBA with Heiden as CEO of combined company (like Butler of combined KERX/AMAG) cannot be discarded as being in the cards. Now, given all is sorta being exposed, the “mafiosos” might have to “switch things around” and employ other mechanisms so as not to be too obvious. Btw, did you all see the latest in the RMTI legal battle saga between Chioini/Klema and RMTI’s BOD who ousted them? It appears RMTI’s BOD lawsuit against Chioini/Klema was dismissed among other developments. See RMTI’s latest 8-K filing dated July 11 th as follows..
a18-17201_18k.htm
Folks, the point is, it really doesn’t matter who or what’s behind the KERX bamboozle going on 4+ years. The matter at hand is the “merger swindle” which is aimed at “hijacking” 62.57% of KERX shareholder holdings, “hijacking” KERX the company, and “hijacking” KERX’s blockbuster potential science technology Ferric Citrate — in serious and unconscionable detriment of KERX shareholders. The “merger swindle” vis a vis the livelihood of KERX shareholders is the matter at hand. The rest, the bigger picture, of whether it’s Fresenius, or Sanofi , or whoever/whatever behind curtain #3 just revolves around it and will only serve important in, “the prosecution intends to prove”.
What good does it do KERX shareholders to know or surmise that, “it’s Fresenius behind” or “it’s Sanofi behind”, or whoever/whatever behind curtain #3. That’s not the important matter at hand.
The KERX/AKBA “merger”, as we know it today, needs to be STOPPED. Certainly, the .37433 conversion ratio is the swindle of all swindles and UNACCEPTABLE — among other terrible things, it wipes-out some KERX 97M shares (among them 62.57% of yours and mine) and some 11.8M shares of KERX short interest.
ALL above, in my opinion, as always..
From the Akebia website..
“The combined company brings together Keryx, a commercial organization, with Akebia, a leader in the development of HIF-PHI therapeutics for patients with kidney disease. The combined company will have an established renal development, manufacturing and commercial organization, and plans to leverage its leadership’s extensive expertise in the commercial renal market with the goal of maximizing sales of Auryxia while driving launch momentum for vadadustat in the United States, subject to its regulatory approval. Keryx’s established U.S. sales and marketing organization and its medical affairs team have built strong awareness within the nephrology community to address the needs of patients with CKD, and will drive the launch preparation and execution for vadadustat in the United States, subject to its regulatory approval.”
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So Keryx brings to the table established renal development, manufacturing, and commercial organization.
Keryx brings to the table established U.S. sales & marketing and medical affairs team which has built strong awareness within the nephrology community.
Keryx will drive the launch preparation and execution for vadadustat in the United States, subject to its regulatory approval.
Keryx brings to the table twice FDA approved and EU approved blockbuster potential Auryxia well into commercialization in the U.S. with potential revenues in 2018 of $100 million plus.
What does AKBA bring to the table?
Yet KERX shareholders are being swindled out of 62.57% of their holdings, allowing for a “cooked-up pro forma baluation which ends-up giving ABKA nearly equal equity weight as KERX i.e. KERX 50.6% AKBA 49.4%.
If that isn’t the CFs of all CFs for KERX shsreholders then don’t know what is..
ALL IMO
THIS POST WAS BLOCKED ON THE YHOO BOARD.
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So Sanofi is fetching $2.2 billion for its EU generics unit Advent.
With 115 million O/S, $2.2 billion for MERGED AKBA would fetch $19/share and suitor would get both companies and science technologies.
$19/share would equate to $7.11/share for KERX pre-merger.
If suitor acquired KERX today for $7.11/share, with 155 million O/S fully converted, suitor would pay $1.1 billion.
So at $2.2 billion for both companies, basically, suitor would be paying $1.1 billion for each company, meaning, AKBA would be valued equal to KERX which is preposterous.
But, here’s the thing — if KERX were to be acquired today for $2.2 billion, with 155 million O/S fully converted, that would equate to $14.19/share which is the low-end of KERX’s true value. That is to say, if KERX shareholders received $14.19/share for their holdings today, they could at least say they were made good after all the suffering and pain for YEARS.
But NO, in the scenario of $2.2 billion for MERGED AKBA, the suitor gets 2 companies. In other words, one could say the suitor is getting one company for free since KERX alone is worth $2.2 billion.
That my friends is a hypothetical scenario of what the .3743 conversion ratio swindle potentially amounts to, suitor getting one company for free — courtesy of longtime suffering and bamboozled KERX shareholders.
As for AKBA shareholders, they would receive $19/share for 100% of their shares, not 37.43% of holdings with would be the case for swindled KERX shareholders.
Btw, $2.2 billion for KERX, basically equates to Auryxia valuation of $700 million peak sales with a 3X multiple which is quite reasonable and potentially real with both, hyperphosphatemia and IDA indications in U.S. and EU.
The “merger” is the swindle of all swindles for KERX shareholders — nevermind the shorts potentially getting “off the hook “.
ALL IMO
Folks, the following my take, based on my opinion and way I see and break-down the proposed “merger swindle”.
When one public company acquires another, stockholders of company being acquired are compensated for their shares. This can be in form of cash or shares in company doing the acquiring, or a combination of cash and shares. Either way, shares/stock of company being acquired CEASE TO EXIST.
Using above as underlying mechanics, in KERX/AKBA proposed “merger” swindle, KERX would be company being acquired, hence, KERX shareholders would be the ones being “compensated” not AKBA shareholders. As such, KERX shares will effectively be replaced in your brokerage account(s) with a certain number of MERGED AKBA shares. As you know, the ratio of KERX to AKBA shares would NOT be one to one. The proposed conversion ratio from the dungeons of hell equates to .3743 KERX shares to 1.000 AKBA shares. What this means is that 62.57% of your KERX holdings will be subtracted, taken away, and remaining 37.43% will be converted into MERGED AKBA shares. For example, if you own 5000 shares of KERX today, upon execution of proposed “merger swindle”, your 5000 shares of KERX will become 1871.5 shares of MERGED AKBA. At this point, forget KERX shares, they CEASE TO EXIST, you now own MERGED AKBA shares which would be worth whatever price per share MERGED AKBA is trading at as per dictated by MR. Market and accompanying manipulators. (this is key to keep in mind to understand that what Robert H is peddling is snakes oil).
AKBA shares today are trading at around $10/share with AKBA at 57M O/S or market cap of $570 million. Upon execution of proposed “merger swindle”, MERGED AKBA O/S would increase from 57M to approx. 115M shares, in other words, AKBA is acquiring/“merging” KERX to form new MERGED AKBA by simply issuing 58M AKBA shares. No cash, no REAL price/based transaction. The pro forma valuation Robert H is peddling is “cooked-up” STEMMING FROM a .3743 conversion ratio which effectively “hijacks” 62.57% of your KERX shares which NO VALID no relationship whatsoever between Auryxia with FDA approvals, EU, approvals, and well into commercialization vs Vadadustat still in clinicals years away from commercialization — yet, it is KERX shareholders taking a big hit ( pro forma means assumed, forecasted, informal calculations, not a certainty).
So what would be the price per share at which MERGED AKBA shares would be trading upon execution of “merger swindle”? Would it be dictated by the “cooked-up” pro forma valuation which Robert H is peddling or by whatever price per share is dictated by Mr. Market and accompanying manipulators? Me thinks the latter.
So, will MERGED AKBA shares be trading at say, the same $10/share that AKBA is trading today which, btw, at 115M O/S would equate to MERGED AKBA at &1.15 billion market cap (with KERX having been merged INTO AKBA) not the $570 million AKBA market cap of today. Will Mr. Market and accompanying manipulators factor-in the value of KERX (the company and its technology) thus appreciating MERGED AKBA’s price/share? —Or will AKBA’s and KERX’s price/share appreciate prior to proposed “merger swindle” only for MERGED AKBA to take a hit post “merger swindle” reflecting the increased O/S from 57M to approx.115M shares? You see folks, normally, the acquiring company, in this case AKBA, takes short term given either giving-up lots of cash or diluting or a combination of both.
Today, if you own 5000 shares of KERX and KERX is trading at $5/share (haha, here’s swindle variable #1, KERX should be trading at no less than $10/shares but, guess what, even with IDA approval, or Innovator Award, or breaking late-breaking abstracts, or God himself buying KERX, KERX’s pps has been held “hostage” for over 8 months since IDA approval, now you know why, IMO) — if you own 5000 shares of KERX and KERX is trading at $5/share, you’d have $25,000. But, with proposed “merger swindle”, you would own 1871.5 of MERGED AKBA shares which , if trading at $10/share, you’d have $18,715 not $25,000. MERGED AKBA would need to be trading at $13.36 to equate the same $25,000.
Robert H is posting about MERGED AKBA trading at pro forma valuation of KERX + AKBA market cap — bunch of CROC. The MERGED AKBA would not be trading at KERX + AKBA pro forma market caps as a mathematical certainty, but rather, as dictated by Mr. Market and accompanying manipulators.
But’s let’s suppose that Mr. Market and accompanying manipulators, either prior to or post “merger swindle” appreciate AKBA (prior to) or MERGED AKBA (post) to $18/share in recognition of KERX/Auryxia’s worth. Well guess what, who’s to say that $18/share is not fertile ground for the “mafiosos” to once again crank-up the short operation machine aimed at once again generating short profits, while bamboozle shareholders again, rinse and repeat, while shaking shares and getting ownership of the newly issued 58M shares employed to “gobble-up” KERX (they already control 75%+ of the current AKBA 57M O/S)? Funny, with proposed “merger” swindle and merged AKBA taken to $18/share scenario — it would be exactly how it “worked out” for KERX shorted from $18 AND RMTI shorted from $18. The aim would be to take control of both companies which have been rolled-up into one, while KERX shareholders get “swindled” out of 62.57% of holdings.
Look folks, Robert H is attempting tto peddle a load of CROC to confuse you with pro forma valuation and this is my favorite from one of his posts — “the conversion ratio is to get the number of shares equilibrated to the 51/49 split” (hahahaha).
The 51/49 pro forma split is meant to make it look like KERX has majority ownership of MERGED AKBA when , in practice, effectively, with “merger swindle”, KERX CEASES TO EXIST — the pro forma valuation and split, in practice, effectively, means squat for KERX shareholders of today. KERX shareholders would not own 51% of MERGED AKBA or any other mumbo jumbo — that’s pro forma. In reality, in practice, KERX shareholders would simply own MERGED AKBA shares which will be 62.57% LESS shares of KERX shares owned today, and which value would be effectively dictated by Mr. Market and accompanying manipulators.
It would be perfectly valid consideration that a probability factor as high as 99.9% can be considered to describe the .3743 conversion ratio as a machination employed aimed at one thing and one thing only, to erase 62.57% of KERX shareholder holdings, a swindle of all swindles, with intent to “hijack” Keryx Pharmaceuticals, Inc. and its blockbuster potential, Innovative Award winning, multi-billion addressable market, science technology Ferric Citrate — by a group of bonafide “mafiosos” who, while amassing a fortune in short profits for YEARS and subjecting unsuspecting KERX shareholders to YEARS of financial and psychological suffering, and after issuing some 65 million KERX shares with proceeds of some $550 million spent to advance company, ALL groundwork and structure, and blockbuster Auryxia to turn-key ready status, now want to “hijack” 62.57.% of shareholder holdings, “hijack” the company, “hijack the science”, roll it into the AKBA enchilada via a so called “merger” from the dungeons of hell, AKBA a company with a drug candidate which is years away from selling $1 IF approved, with $400 million in cash which will be burned at the stake of end stage clinicals, with delayed end clinical results falling back 1-2 years behind Fibrogen’s Roxadustat.
Any numbers employed in an attempt to mixture-up a mathematical concoction of pro forma valuations and pro-forma equity between the 2 companies which stem from an underlying conversion ratio of .3743, is nothing but “witch doctor” criminal practice which authors should face any and all chambers of the justice system and be punished accordingly for being the despicable “mafiosos” they truly are, dressed-up in Valentino threads trying to camouflage their deranged greed and scumbag cruelty at the expense of the very people which put their trust in them.
Screw that, a million times screw that — let them put the official paperwork on the table if they choose to insist on taking this to the ultimate — and let’s get it on!
Finally, here’s another favorite from one of Robert H’s posts — “Contacting a lawyer because you think that is a huge mistake.” Ladies and gentleman, Robert H is a piece of work, and one that you can trust as much as you can trust a former Gucci authentic women’s handbags salesman on Canal Street in NYC.
ALL above, in my opinion, as always..
(The following post seemingly blocked on Yhoo board)..
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@KEL Think you might be reading too much into KERX trading at premium vis a vis .3743 “merger” conversion ratio, but, you never know, lots on table for KERX BOD to think about —IMO.
On June 28th, day “merger swindle” was announced and pps taken down to $3.63, 9.9 million shares traded. Since June 28th, another 13 million shares traded.
KERX shares are being accumulated at cheap by “mafiosos” looking to advance ownership control/voting rights — IMO.
KERX trading higher points to buying pressure likely responding to continued accumulation from “mafiosos” — shares coming from shaking weak retail, traders, and funds with $5 “penny stock rule”.
We’ll see if your you’re reading into KERX premium visca vis AKBA has any veracity. Three upcoming key variables to look-out for..
1– Short interest at July 13th and July 30th..
2– 2Q2018 financial results cc
3– Aug. 15th Nasdaq Institutional report.
Into MONTH 9 since IDA approval (Nov. 7, 2017), so happens coinciding with same day 3Q2017 cc (original announced date changed) with guidance withdrawal and missing on increased revenue guidance from prior 2Q2017 cc, followed by coinciding with tax loss selling, etc. — all coincidence? Btw, KERX’s pps take a hit from $6.23 to $5.15 and held “hostage” ever since — IMO
Less than 2 months prior to “Black Tuesday”, Nov. 7, 2017, Butler resigns ( no reason given), on April 30, 2018 Madison resigns (no reason given), on June 28, 2018 Butler te-surfaces with proposed “merger swindle” announcement and proposed CEO of merged company, when and if “shoved down out throats” — IMO
Lots “on the table”, KEL, during past 11 months, not to mention past 31/2 years.
ALL above, in my opinion, as always..
psea 9 hours ago
@Chris it's already been forwarded to an attorney. Just amazes me investors don't see how small of a pie we get w/ Vifor and Otsuka taking their parts.
Shameful mgmt only pitched the upside....in 5 yrs...possibly.
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@psea ALL following as per my hypothetical analysis and IMO.
The KERX/AKBA “merger”
swindle should have NEVER been proposed — they screwed-up BIGTIME. The correlation between the 2 companies is TOTALLY out-of-whack. KERX with twice FDA approved and EU approved blockbuster potential Auryxia well into commercialization and ALL structure in place — while AKBA with Vadadustat still in late-stage clinicals YEARS away from commercialization., IF APPROVED. What is happening is that they are trying to shove/cram this “merger” swindle to fit their schedule and timing for execution of end game at year-end 2018. They are trying to shove/cram “merger” swindle down everybodies throat employing AKBA’s $400+ million cash in balance sheet as “bait” to camouflage the fact that the “merger” swindle is TOTALLY out-of-whack.
Let me explain as follows, again, as per my hypothetical analysis and IMO.
The original plan for merging KERX mid-year 2018 was never AKBA, it was RMTI as had been posting since months ago. You see, the correlation between KERX and RMTI is NOT out-of-whack, it’s much more sellable in terms of employing a “merger” swindle. RMTI has 2 FDA approved drugs (Triferic the important one, Calcitriol the other) and 52 million O/S. A KERX/RMTI “merger” swindle with similar if not same criminal conversion ration of .3743 (again, RMTI at 52 million O/S) was originally planned and would have been sold as RMTI having 2 FDA approved drugs versus KERX’s one with Triferic also having blockbuster potential.
But the crooks ran into a quagmire when they ousted RMTI’s CEO Chioini and CFO Klema via RMTI’s BOD with has recently designated new Directors (you need to have knowledge of RMTI’s story is to fully understand) — the quagmire is that Chioini and Klema were/are fighting back in Court of Law and a BIG legal mess prevails at RMTI which will potentially take MONTHS to resolve absent an agreement between 2 parties in legal battle.
Sooo, the KERX/RMTI merger became NOT DOABLE as planned and, again, they’re running on a schedule — so the shoved, crammed, TOTALLY out-of-whack KERX/AKBA “merger”
swindle was born.
The sheet runs DEEP, they screwed-up BIGTIME, and the KERX/AKBA “merger” is the swindle of all swindles, Your write-up is excellent, on point, but understand, the sheet runs DEEP and it will hit the fan if they don’t take a step back.
Let the thumbs-down commence.
ALL above, in my opinion, as always — hypothetical analysis
Folks, my posts on KERX Yhoo board are being blocked like never before — other posters have communicated that some of their posts are also being blocked. Have to repeatedly go thru this platform, IHub, and post IHUB links on Yhoo board. My understanding is, as per what have read and been told, that it’s highly likely KERX Yahoo board and boards of other stocks are controlled by moderatorship in the hands of secret corporate and hedge funds interested in misleading the average investor. It appears the same on RMTI board with ID’s which seemingly, although different, have similarities in more ways than one.
The KERX board, for years, seems to have be affected by an army of ID’s which, IMO, employs all sorts of what I call “screenplays” designed and aimed to deceive, mislead, distort, and bamboozled the average investor, potentially, in collusion. It appears that the people behind the moderatorship are blocking posts.
Click on the link below — yet another example of how Auryxia’s science is being while a “merger” swindle of all swindles intends to steal 62.5% of shareholder holdings. Some have pointed out the continued high level of R&D expeditures which appear in company quarterly financials. Well, the science is being advanced, potentially, quietly without disclosure to shareholders — IMO
Take a look at link below..
http://ow.ly/RHkZ30kFS72
ALL IMO
p.d. @Michele Excellent post. Keep in mind that Auryxia sales may have been purposely “held back” in past years, reason for a paltry $90+ milllion during 2015, 2016, and 2017 combined, in other words, in the hands of Big Pharma, say Sanofi/Genzyme, Auryxia sales would QUICKLY, not years, reach a level of sales multiple times what you see today — IMO
Last night posted a series of posts related to Auryxia’s science (Ferric citrate). Take a look, all links provided are recent — a couple disappeared.
Look folks, Auryxia is a monster potential drug, been telling you this forever. Think — Renvela was selling $1 billion just as phosphate binder, without IDA. Auryxia with IDA is easily, on LOW end, $500 million plus yearly sales drug. Using a 4X multiple, that’s $2 billion valuation which, at 155 million shares O/S converted, equates to 13/share, at $750 million yearly sales equates to $19/share, at $1 billion yearly sales equates to $26/share — IMO
And only reason price per share based on above projected valuations is not higher, at $30, $40, or $50 a share, is because of the high O/S which, as have been telling you, is a result of issuing some 65 million shares during 2014, 2015, 2016, and 2017, with proceeds of some $550 million spent to get company and Auryxia to turn-key ready status in U.S. and EU., mind you, the $550 million spent includes all hefty compensation, benefits, and bonus packages awarded to execs and BOD throughout the years, “payed to play” sort of speak — IMO
(Btw, take a look at the O/S of AKBA, RMTI, and AMAG — that’s 57 million, 52 million, and 34 million shares respectively, versus 155 million shares for KERX. Now why do you think that is????)
Now, via a criminal “merger” swindle machination, the crooks want to disappear 62.5% of shareholder holdings. Mind you, the slow launch, slow sales team development, slow ramp-up in sales, the bs $90+ million sales in 3 years (what Renvela was selling in 2 months not 3 years) is potentially by design — IMO
Folks, you have been getting royally screwed for 31/2 years since Auryxia launch, while the crooks have been amassing shorts profits at the expense of “assasinating” advancement of company’s market capitalization/share price, employing corrupt machinations of all sizes, colors, and flavors, and now, they want to “rape” you and steal 62.5% of your shares — IMO
So, what are you going to do? Are you just going to sit there and allow yourselves to be “raped” after getting royally screwed for 31/2 years?
Pick-up the phone and make a call!..
ALL above, in my opinion, as always..
It appears they took down the class action lawsuit Relypsa/Butler post from Yhoo board which had posted and had received 7 thumbs-down prior to the post being taken down). They also took down an IHub link post which had to post thru IHub since my posts were getting blocked. The IHub link post read, “Don’t swallow what the crooks are desperately trying to feed you”
Here’s the content of the Relypsa class action post with 7 thumbs down which vanished (re-post if you will), as follows..
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Back in August 2016 a group of Relypsa shareholders filed a class action against Relypsa’s BOD — not first time John P. Butler would be involved in class action if class action were filed against Keryx/Butler for forcing a “merger” swindle.
Remember, BOD of both, Keryx and Akebia, have already unanimously approved the transaction.
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“DANNY LU, Individually and on Behalf of All Others Similarly Situated, Plaintiff,
vs.
RELYPSA, INC., Daniek K. Spiegelmn, John P. Butler, Paul J. Hastings, Kenneth J Hillan, M.B.Ch.B., David W.J. McGirr, John A. Orwin, Thomas J. Schuetz M.D., Ph.D., and Helen Torley, M.N.Ch.B., M.R.C.P.,
This shareholder class action arises because Relypsa’s board forced through a sale of the Company in order to reap personal benefits they negotiated with the Buyer to the detriment of Relypsa’s public stockholders. The Board pushed through a merger pursuant to which the Buyer plans to acquire 100% of the outstanding shares of Relypsa common stock through an all-cash tender offer (the “Tender Offer”) followed by a second-step merger (the “Proposed Transaction”). The Buyer has offered Relypsa investors $32.00 per share in cash, or a total of approximately $1.53 billion (the “Offer Price” or “Merger Consideration”). The Agreement and Plan of Merger, is dated July 20, 2016...............
Page 17 of the Recommendation Statement indicates that “[o]n May 22, 2016, John Butler, a member of the Relypsa Board, delivered an e-mail to Mr. Spiegelman, Mr. Orwin and Ronald Krasnow, Senior Vice President and General Counsel of Relypsa, stating that, at that time, Mr. Butler intended to recuse himself from the meeting of the Relypsa Board on the following day and any future discussions to the extent they related to Galenica’s proposal to acquire Relypsa or any related transaction process.” The Recommendation Statement wholly fails to explain, however, why Mr. Butler recused himself and whether he believed he may have a conflict of interest in connection with the Proposed Transaction. Therefore, this information is necessary to ensure the statements related to Mr. Butler’s recusal are not false and misleading.”
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As some of you know, while Butler on Relypsas’s Board, Sanofi entered into 2-year agreement by which Sanofi's nephrology sales force to complement Relypsa's efforts to commercialize Veltassa in U.S. As a result, much speculation on Sanofi acquiring Relypsa, including analysts.
When Relypsa and Vifor Pharma (Galenica Group) announced merger agreement it was deemed unexpected by many, looked upon upon as Vifor Pharma swooping Relypsa from under Sanofi to add Veltassa to its renal arsenal.
Relypsa’s Director Butler RECUSED himself from any meeting and discussions related to Galenica’s (Vifor Pharma’s parent company) proposal to acquire Relypsa or any related transaction process.
Sooo, why did Butler recuse himself from having anything to do and from voting on deal in favor of Vifor Pharma? Would he have voted in favor if it had been Sanofi? As Relypsa BOD Director, was Butler pushing for a Relypsa/Sanofi deal?
Keep in mind, Butler held various positions at Genzyme Corporation, now Sanofi, from 1997 to July 2011 — notably, Butler served as president, general manager of Genzyme’s Renal Division, which grew from $150 million to more than $1 billion in revenue under his leadership. (Renvela).
ALL IMO
In an important meeting.
Fellow investors, don’t swallow what the crooks are desperately trying to feeding you.
IMO
@Anfuhrermitwut Guidance withdrawal since Nov. 7, 2017 — 8 MONTHS ago.
How bout them apples?
The pile of feces is overwhelming.
IMO
(Could not post the following on Yhoo board, seemingly blocked)
Folks, do not lose sight of the fact that Sanofi/Genzyme had a $1 billion renal franchise, top profit generator for company, dominated renal space for over a decade, global infrastructure in place — that franchise well into facing demise due to generics and industry
advancements.
Furthermore, Sanofi/Genzyme has known this was coming years ago. Have they, are they, just rolling over and playing dead with a top profit generator franchise in demise with global infrastructure in place and more than a decade dominating the renal space?
Look folks, if Vifor Fresenius got ahold of Auryxia and Vadadustat, AND Triferic, they would have a monopoly in the renal space sorta speak. This is not likely to happen, not on Sanofi/Genzyme watch — IMO.
Have not read or heard anything indicating Sanofi/Genzyme retiring from renal space. In fact, in their last quarterly cc, CEO Brandicourt spoke about having $7 billion for continued m&a. Furthermore., Sanofi/Genzyme is expected to close deal on sale of its EU generic division (Advent) for some $2.5 billion in upcoming months.
Now, can someone answer the following question — why does Keryx have so many ex-Sanofi/Genzyme execs and Directors (Regan/Enyedy) at Keryx (including the late Madison), mind you, all top Sanofi/Genzyme ex-execs involved in having built Renvela into a $1 billion renal franchise — why? Butler, along with Regan, Enyedy, Madison, all involved in buiding Renvela into a 1 billion top profit generator. Is Sanofi/Genzyme out of the picture — I say, no way.
Yesterday, “hooligan” Dave/Duke (Duke on the RMTI board, IMO), peddled alot of convoluted concoctions on this here board; personally, trust him like I trust Keryx/Akebia looking out for shareholders best interest — ZERO!
ALL above, in my opinion, as always..
(This post also seemingly blocked on Yhoo board)
@Anfuhrermitwut Add to post below this one Yhoo board (IHub link) the following..
Butler makes it to BOD of Relypsa (compound Veltassa for hyperkalemia, long standing disease of kidneys leading to kidney failure). While Butler on Relypsas’s Board, Sanofi enters into a 2-year detailing agreement by which Sanofi's nephrology sales force to complement Relypsa's efforts to commercialize Veltassa in U.S. — this on August 2015. So all speculative eyes on Sanofi acquiring Relypsa, including analysts.
On Oct. 2015, Relypsas’s Veltassa receives FDA approval. Now, speculation even greater on Sanofi acquiring Relypsa, including analysts. Butler continues on Relypsa’s BOD.
On Dec. 10, 2015, Keryx announces appointment of Butler to BOD. So, at this point, Dec. 2015, Butler has a seat on BOD of Keryx and Relypsa.
On July 2016, Relypsa and Vifor Pharma announce an agreement for Vifor Pharma (Galenica Group) to acquire Relypsa for $32/share or $1.5 billion, 47 million O/S.
So, unexpectedly, Vifor Pharma swoops Relypsa from under Sanofi to add Veltassa to its renal arsenal. But here’s the catch !!! — Relypsa’s Director Butler RECUSED himself from voting on the Relypsa/Vifor deal. So why did Butler recuse himself from voting on deal in favor of Vifor? Would he have voted in favor if it had been Sanofi? But wait, didn’t Butler sign a deal with Vifor 11 months later? Whoa Nelly!!!
What I’m getting at is this — IMO, so goes hypo, behind curtain #3 as its relates to “a plan”, by design, KERX/AKBA with RMTI in the wings lies Sanofi not Vifor Fresenius, as has always been discussed. The Butler vis a vis Vifor Fresenius agreement “song and dance” is a “smoke screen”, sort of speak, to divert attention away from Sanofi — IMO
Reason for my post yesterday referencing, pointing out, “hooligan” Zing’s post featuring the Akebia/Vifor agreement (post received 10 thumbs-up), and reason for my request to you to research the Akebia/Vifor agreement for an “out clause”. Btw, thanks for providing the info. on the IHub board — seems to
me that agreement can be easily terminated.
Also, if Sanofi behind curtain #3 which, IMO, is a given (again, why all the ex-Sanofi execs at Keryx?), funny how Butler was able to finagle an agreement with Vifor Fresenius a year ago and now re-surfaces with AKBA/KERX “merger swindle” with Sanofi being the likely player behind curtain # 3 — IMO. Did Butler, ex-SanofiGenzyme exec of many years and leader of Renvela worldwide, get inside scoop on VF?
Side Note: AKBA 57 million O/S, RMTI 52 million O/S, Relypsa 47 million O/S, AMAG 34 million O/S, KERX +/- 155 million O/S fully converted — see why my posts keep mentioning KERX taken from 90 million O/S pre-Baupost to +/- 155 million O/S with Baupost (placed almost entirely with Baupost) and mentioning $550 million spent to take KERX/Auryxia to turn-key ready while AKBA at 57 million O/S to implement .3743 conversion ratio swindle — RMTI at
52 million.
Like I said, IMO, all pieces of “a plan”, by design, seemingly falling into place — and a highly corrupt “a plan” at that.
Now here’s my fav from 6 days ago, day of “merger swindle” announcement..
Dave 6 days ago
So Butler came in, got what he needed
Struck a deal with Vifor and told them there’s more where that came from
In the meantime write a nasty gram about Auryxia to the FDA, that will keep them off our trail
Leaves, Freddy freaks
Butler calls him back to seal the deal, Butler says yes, but Bow Tie Tony, Opie and Adams have to go.
I’ll get to work on EU.
_____________________________
Oh boy!
ALL above, in my opinion — hypothetical
(Note: This post was blocked from publishing on Yhoo board)
@Anfuhrermitwut Look at it this way — ALL IMO, hypothetical, as follows..
Sanofi/Genzyme (S/G) had $1 billion renal franchise, top profit generator for company, dominated renal space for over a decade, global infrastructure in place — said franchise well into facing demise due to generics and industry advancements.
S/G has known this was coming years ago. So, did S/G just roll over and play dead knowing a top profit generator franchise was approaching demise?
Now, S/G’s fiercest competitor in renal space has been/is Vifor Fresenius (VF). If VF got a hold of KERX’s Auryxia, AKBA’s Vadadustat, AND RMTI’s Triferic, VF would have a monopoly in the renal space sorta speak. S/G would have to say bye bye to renal. Have not read or heard anything indicating S/G is retiring from renal in S/G’s last 3 quarterly cc’s since generics started coming to market. In fact, in last quarterly cc, S/G’s CEO Brandicourt spoke about having $7 billion for continued m&a. Furthermore., S/G is expected to close deal with sale of generic arm in EU (Advent) for $2.5 billion.
Now, S/G is a monster, $101 billion market cap company, BIG influential muscles throughtout i.e. banks, hedge funds, SEC, FDA, etc. vs Vifor $10 billion and Fresenius Medical Care $31 billion market caps. In other words, Sanofi is a powerhouse, 3rd largest pharma in the world. You know what they say — mess with the bull, get the horns.
What’s in play here are 3 drug compounds, Auryxia, Vadadustat, and Triferic, and potentially a 4th (Feraheme) to build a leading renal franchise.
So, whos’s behind curtain #3, S/G or V/F. Well, like I said, is powerhouse S/G going to rollover and play dead with $7 billion plus and 3rd largest Bengal Tiger in the global pharma game?
Now, you’ve had/have ex-S/G’s execs and Directors (Regan/Enyedy) at Keryx (including the late Madison), mind you, all top S/G’s ex-execs involved in building S/G’s $1 billion renal franchise — why? Butler, yep, ex-S/G top exec who along with Regan, Enyedy, Madison, all involved in buiding Renvela/Renagel into $1 billion top profit generator for S/G.
The story of “a plan”, by design, is one for the history books and this latest episode of “merger swindle”— well, let’s just say the machinations run DEEP. Potentially, you make it look like it’s S/G, then Butler signs with V/F, then Butler leaves, then Butler comes back, you make it look like it’s V/F, but it’s really S/G all along — Keryx, Akba, Genzyme, and Baupost HQ’s all located in Boston. What say you?
Meanwhile — while you have people jumping left right left right trying to figure out the “chess game”, you surface with a “merger swindle” to snatch 62.5% of holdings from Keryx shareholders. Why? — because Auryxia is BLOCKBUSTER drug, multi-billion addressable market, bigger than Renvela, Renvela on steroids, HUGE potential with IDA — soo, if you had to pay for what Keryx/Auryxia is really worth, you’d have to dig deep into your pockets and pay $3 billion PLUS, plus AKBA/Vadadustat, plus RMTI/Triferic. So what do you do? — you develop Auryxia to turn-key status by issuing some 65-70 million shares or $550 million, while you make it look like Auryxia is struggling, you keep market cap artificially low, you amass short profits, shareholder pain and suffering with their investment going nowhere, you do the Butler “song and dance” and, then f
the big blow, “merger swindle” to set stage for tske under. You employ AKBA with 57 O/S to execute .3743 inversion ratio swindle while to deal with Chioini and Klema over at RMTI to takeover that company — IMO
Potentially, RMTI was first but, given ongoing legal mess with that company, they went with AKBA first.
You following my friend? Btw, thanks for all your support and info. provided. (Folks, you can find posts from poster AnfuhrerMitwut over at the KERX IHub board. As per Anfuhrermitwut, hus Yahoo posts are getiing blocked.
“Merger” needs to be stopped.
ALL above, in my opinion, as always — hypothetical
MY POSTS ARE BEING BLOCKED AGAIN!
Re-post of poster BIG JAKE’s post..
WeissLaw is investigating whether KERX's Board acted in the best interests of KERX's public shareholders to maximize shareholder value prior to entering into the agreement. If you own KERX shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
___________________________
What do you have to lose by contacting WeissLaw except 62.5% of your KERX holdings in proposed “merger” — the swindle of all swindles.
ALL, in my opinion, as always..
Think some are shortsighted and don’t realize extent of potential machinations. Read me out...(figures rounded, calculations may vary a little).
From Jan. 2014 (Baupost initial purchase) to date, KERX O/S from 90M to 160M shares fully converted, some 70M shares issued. But get this, ALL PLACED WITH BAUPOST with exception of some +/- 13 million shares, allowing for proceeds of some $550 million spent to bring company and Auryxia to TURN-KEY READY status — i.e. clinicals, FDA/EU approvals, all groundwork, payor coverage, marketing/sales, offices, execs, EVERYTHING!!!
Baupost financing nearly ALL $550 million is potentially VERY TELLING — potentially telling that “a plan”, by design, might in fact have been put in place 4+ years ago with Baupost as one of or THE principal “architect”, THE Big Kahuna behind KER,since Jan. 2014. Think about it, why has Baupost been the SOLE OUTFIT financing KERX since Jan. 2014? — and why Baupost as SOLE OUTFIT precisely following Director Daniel Regan, ex Sanofi/Genzyme, who joined KERX as Director end of 2013, followed by Madison ex Sanofi/Genzyme.
(Will get back to 70 million share issuance and $550 million spent as it relates to KERX/AKBA merger
and .3743 conversion ratio swindle).
Now, who brought Butler to KERX as BOD Chairman in Dec. 2015? — yep, you guessed it, Baupost. And Butler? — yep, you guessed it, ex Sanofi/Genzyme. (Btw, Director Mark Enyedy ex Sanofi/Genzyme, John Neylan ex Sanofi/Genzyme, Brian Adams ex Sanofi/Genzyme). So, here’s a question — why so many ex- Sanofi/Genzyme’s at KERX? Will get back to this.
So, Baupost brings Butler to KERX as BOD Chairman in Dec. 2015. In June 2017, 1 1/2 years later, Butler signs with Vifor Fresenius (VF), then 4 months later, in Oct. 2017, Butler resigns as KERX BOD Chairman. The following month, Black Tuesday, Nov. 7, 2017, IDA approval coincides exactly with day of 3Q2017 results cc with BS guidance withdrawal and BS failure to meet RAISED guidance from prior 2Q2017 cc — an already artificially depressed pps gets shot down further from $6s to $4s, then held “hostage”, all coinciding with tax loss selling, etc. But guess what, Butler wasn’t there, no longer Chairman, had resigned a month prior — so no blame on Butler, clean as a whistle vis a vis what transpired on Black Tuesday and what has transpired since (ahem ahem ahem). Some 5 months later following Black Tuesday, on April 30, 2018, Madison suddenly and abruptly resigns, NO explanation. Couple months later, following Madison’s sudden/abrupt/no explanation exit, Butler re-surfaces out of nowhere with AKBA merger. CMON! folks, sequence of events raises too many questions, TOO MANY RED FLAGS— this seems ALL calculated, “a plan”, by design, a scheme, dating back YEARS, IMO.
So, back to ex Sanofi/Genzyme Directors/execs at KERX, why so many? Is it because of their prior expertise in Sanofi’s renal franchise? — can’t be, ZERO results. Was it to sorta lead us to believe a Sanofi play in cards all along, for YEARS? Yet Butler, signed with VF? OR, is Sanofi the real suitor behind (replace Renvela, re-enginner its renal franchise) and somehow the AKBA/VF agreement will be superseded i.e. an “out clause” — Butler made an offer he couldn’t refuse?
who resigned from KERX, then Madison resigns — then Butler, out of “nowhere”, re-surfaces with AKBA merger??? (remember, Butler Baupost’s guy since BOD Chaiman 11/2 year ago).
So you have ex Sanofi/Genzyme execs/Directors at KERX, Butler in and out of KERX as BOD Chairman, Fresenius attempts to shoot down IDA approval, begs the question —all a decoy to lure us into thinking Sanofi play when all along it was really a Vifor Fresenius play — OR??
Let’s think about this. Why did Butler resign after 1 1/2 years as Chairman BOD? This was just 8 months ago (like Madison, suddenly and with no explanation given) and, months prior to resignation, Butler signs with VF leading to believe that something went sour — either between Butler and Madison or with Sanofi since VF a fierce competitor of Sanofi in renal. Why was Madison’s sudden resignation followed by Butler merger couple months later? Here’s what I’m getting at — ALL seems orchestrated, and Madison “payed to play”, millions, and other ex Sanofi/Genzyme i.e. Director Regan doing well for 41/2 years, Neylan doing well, Adams did well — i.e. hefty compensation/free stock/stock options.
Now, back to 70M shares issued since Jan. 2014, taking KERX to 160M O/S, generating proceeds of some $550 million which has been employed to take KERX to turn-key ready status — as it relates to KERX/AKBA merger and .3743 conversion ratio representing a SWINDLE for the history books. So, here’s the “a plan”, by design, put in place some 4+ years go, hypothetical.
Folks!!! — KERX driven to 160M O/S over 4-year period with proceeds of some $550 million to pay taking company/Auryxia to turn-key ready status as we speak. During same period, AKBA driven to only 57M million O/S. Now, via merger machination, , they “disappear”/SWINDLE some 100M KERX shares (62.5% of 160M O/S) thru .3743 criminal conversion ratio, leaving 60M KERX shares (37.5%) to be exchanged for 60M AKBA shares sort of speak. So AKBA issues 60M shares bringing AKBA’s O/S to 117M shares PLUS additional free shares awarded in transaction to Baupost etc. In transaction, YOU, ME, all OTHER common investors get swindled out of 62.5% of our shares, AND, we have yet to make a dime. KERX “crooks”, also get their holdings reduced by 62.5% — BUT, the “crooks”, have 4 1/2 years of massive short profits under their crooked belts, potentially, having recouped their investment, riding free shares, and maybe even in the green.
MIND YOU, our company and its first-in-class blockbuster potential drug Auryxia get gobbled-up, “stolen”, by simply issuing 60M AKBA shares, an ALL PAPER transaction, just paper folks, not a single $1 paid. Yes, AKBA O/S increases from $57M to 117M million plus but, SO WHAT, the “crooks” from both companies, potentially in collusion dating back years, have played and will continue to play short via AKBA and make another killing on the long side when all is said and done — i.e. merged company gets acquired by Big Pharma.
Now, here’s the kicker, hypothetically. AKBA driven to 117M O/S plus with proposed merger, while RMTI sits at, take a guess, check it out, only 52M O/S. So, next up, how bout a merger transaction, with a similar criminal conversion ratio, between merged KERX/AKBA and RMTI? Btw, the merged KERX/AKBA company will operate under the name Akebia, you know, disappear the KERX name and company completely and bury all the crookery of the past.
Folks, the hypothetical has been on target all along, only change, SEEMINGLY, Sanofi became VF, or did it? — and hypo called for a KERX/RMTI merger in May-June 2018, well it happened, but with AKBA — but, as mentioned, RMTI most definitely in the cards.
Bottom line, we are being swindled out of 62.5% of out KERX holdings via a proposed merger. Folks, that represents 100M shares as a company, vanished — AGAIN, that’s 100M shares which equate to 62.5% of $550 million in proceeds ($344 million) that was used to develop the company and Auryxia to turn-key ready status. $344 million “stolen” via a ALL paper transaction, that’s all it is. And the 100M shares worth way more than just $344 million if you value thise shares at minimum $10/share which is what they’re worth — that’s $1 BILLION, vanished. A heist of epic proportions.
FOLKS!!! — this is not right. Common shareholders need to fight andvput-up resistance to this monumental heist by raising their voices, coming together and seeking legal advice/counsel, going to the press, bringing-in a shareholder protection advocacy organization, contacting representives/Senators, whatever it takes.
Again, THIS IS NOT RIGHT! Many unsuspecting investors and their monies their monies invested in this company are and have used and abused for YEARS — as a result of bamboozling potential criminal behaviour, and now, a proposed merger intends to steal 62.5% of shareholder holdings. AND, as it turns out, Auryxia an award winning blockbuster potential drug compound with pristine clinical results and a multi-billion addressable market.
This is unfknbelievable!
@Michelle Yes, looking at Weiss Law as an option. We need legal advice/counsel from an outfit with heavy “muscles”.
ALL ABOVE, IN MY OPINION, AS ALWAYS — HYPOTHETICAL
Poster Dick writes in his last post on Yhoo board which includes a GIF (see below this post/link on Yhoo board)...
“HONESTLY, KERYX;S MANAGEMENT AND BOD ARE SO CORRUPT THEY MAY HAVE INTENTIONALLY TRIED TO SINK SCRIPT GROWTH.”
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@Dick Been saying for years that Auryxia sales development was, seemingly, purposely held back, by design, resulting in $92.8 million in 2015, 2016, 2017 combined, what Renvela was selling in some 5 weeks not 3 years which, no matter how you cut it, is outrageous and nearly impossible to reconcile — IMO.
Potentially, reason for fudged launch, slow and inadequate sales force development, late hiring of VP Sales Tony Chambers who was running sales creating a hostile environment resulting in high turnover and low morale throughout, detested by by most sales force, and quietly resigned with company not communicsting (it was poster Anfuhrermitwut who revealed). A while back, posted a serious posts on the subject and citing many posts in CafePharma throughout years which you can look-up.
The slow and nearly impossible to reconcile slow ramp-up in sales over the years potentially a strategy, by design, to use as a pretext for lack of advancement in pps while, the true reason, responds to a concerted relentless short operation for YEARS directed at manipulating pps historical movement generating massive short profits at the expense of advancement in pps/market cap — IMO.
Have forever been calling out the weekly scripts #’s “hooligan masquerade party” on this board, for years, seemingly in collusion. Notice the “masquerade” has gone bye bye — a despicable bamboozling “masquerade” for years — IMO.
Look, folks, this investment has been a horrific nightmare potentially responding to “machiavellian a plan”, by design, potentially criminal which, for some 4 years shareholders have been deceited, misled, kept in the dark, cheated, bamboozled, swindled, taken to the woodshed, scammed, scalped, and everything else — now, after some 4 years, a proposed merger engineered to employ the ultimate rape — steal 62.5% of shareholder holdings.
This CANNOT proceed and needs to be met with aggressive resistance in the form of outcry by shareholders, legal defense, whatever it takes. They cannot just “assassinate” your investment/money and your financial welfare in the name of a “machiavellian plan” which has benefitted a small group of crooks for years and has now become clearly evident that it has and always has been aimed at company take under at the cheap and stealing shareholders 62.5% of holdings.
No way!
ALL above, in my opinion, as always — includes hypotheticals..
The post below not going thru on AKBA Yhoo board as it appears it is being blocked just as it happens with many of my posts on KERX Yhoo board. So, as with KERX, had to post on IHUB and then post IHUB link on Yhoo. (Yhoo has nothing to do with, it’s board moderators — will explain later). You will better understand the post below going forward as “things” are just getting started here.
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As you can see, out of nowhere, the Sadie ID surfaces and immediately garners an unusual number of thumbs-up.
That is designed for the unsuspecting shareholder who visits this board to take notice — the multiple thumbs-up are geared towards luring unsuspecting frequent or new visitors to this board into thinking that the Sadie ID is well received (potential multiple ID’s in the mix).
Notice how my post is thumbed-down to match. Surprised it was only 3 thumbs down, then again, “they” don’t want to be too obvious upon newly surfacing here responding to the proposed AKBA/KERX merger announced yesterday.
Urge you to take note and think about this.
ALL IMO
Folks, with merger, AKBA outstanding goes from 57 million to some 115 million shares.
The AKBA 57 million O/S vs KERX 120 million O/S is total bs argument. In fact, the lower AKBA O/S was potentially chosen as a “calculated play” to draw upon AKBA’s shelf and issue some 55 million shares to acquire KERX — which, btw, can only be pulled-off by vanishing 62.5% of KERX shareholders holdings.
If you take AKBA’s avg. share price of +/- $10.50 during the past months, 55 million shares represents some $577.5 million to “steal” KERX. But again, it cannot be pulled off without first pick pocketing KERX shareholders to the tune of an outrageous 62.5% of holdings.
VIPGEM is a slimy despicable reptile, the “hooligan” crowd showing their true colors — admitting in his post what the proposed merger truly represents...
“the real end game is robbing you "62.5%" and you deserved it.”
ALL, in my opinion..
Fellow shareholders, the merger is reducing our KERX holdings by 62.5% — what are we getting in return.
AKBA shareholders are getting diluted by some 55 million shares which the company will be issuing — they get to keep all their shares. And, in return for the company issuing some 55 million shares, they get Keryx Pharmaceuticals with blockbuster potential Auryxia which has a multi-billion addressable market as we speak, 2 FDA approvals, EU approval, years of groundwork development, years payor coverage development, years of sales and marketing development, expanded 27,300 sq. ft. offices with multi-million renovations, years of sales in the books, manuf. agreements in place, EU groundwork in place, etc. etc. etc.
What are we getting for 62.5% of out shares? Folks, we are potentialy being robbed.
Class-action lawsuit?
ALL above, in my opinion...
Fellow shareholders, the merger is reducing our KERX holdings by 62.5% — what are we getting in return.
AKBA shareholders are getting diluted by some 55 million shares which the company will be issuing — they get to keep all their shares. And, in return for the company issuing some 55 million shares, they get Keryx Pharmaceuticals with blockbuster potential Auryxia which has a multi-billion addressable market as we speak, 2 FDA approvals, EU approval, years of groundwork development, years payor coverage development, years of sales and marketing development, expanded 27,300 sq. ft. offices with multi-million renovations, years of sales in the books, manuf. agreements in place, EU groundwork in place, etc. etc. etc.
What are we getting for 62.5% of out shares? Folks, we are potentialy being robbed.
Class-action lawsuit?
ALL above, in my opinion...
KERX has spent some $550 million over 41/2 years to get the company where it is — Auryxia development with FDA approvals, EU approvals, payor coverage development, marketing/sales, expanded offices, etc. etc. etc.
And after some $550 million spent and 41/2 years later, AKBA gets to merge/acquire KERX by merely issuing some 55 million AKBA shares — only made possible by reducing holdings of KERX shareholders by 62.5%.
This is potentially quite the CF for KERX shareholders — this is like they stuck their hands in your pocket and took 62.5% of your shares. Tell me me fellow shareholders, what are we getting for 62.5% of our shares?
This is potentially criminal — IMO
ALL IMO
@X What makes you think KERX’s future is tied to Akebia’s Vadasdustat vis a vis FGEN?
Auryxia is ready to replace Renvela and prescribe for IDA NOW and DaVita, and now potentially Fresenius, are wide open for business representing 70% of renal provider services combined — and EU coming. Vifor Fresenius has a complete arsenal of products and now potentially Auryxia in the making.— Vadadustat work on progress but meanwhile VF has an arsenal.
KERX/AKBA merger has NOTHING to do with Vadadustat vis a vis FGEN, and everything to with a machination transaction employed allowing for VF to eventually acquire KERX/AKBA at the cheap while shareholders get fleeced, the short operation makes a fortune, big boys and Big Pharma win — little guy is disposable.
Today’s KERX/AKBA’s trading action in perfect concerto, both, long side (accumulation at cheap) and short side (fleecing and pps takedown) was a major heist.
Nothing to do with Vadadustat or FGEN. As far as KERX is concerned — has to do with Auryxia falling in VF’s lap.
Sanofi loses again, just like they did with Relypsa (Veltassa).
ALL above, in my opinion...
I knew a merger was the machination to be employed to screw KERX shareholders at the end and erase KERX’s past of years of bamboozling shareholders, generating massive short profits, and undertaking of KERX at the cheapn— just thought it would be done thru merger with RMTI.
Never imagined AKBA given the history with Butler and Vifor Fresenius.
Same difference, in the end machination, and today is it, KERX shareholders got the shaft with a .3743 conversation ratio.
ALL IMO
Bottom line, it’s AKBA pps looking forward that will dictate the value of KERX shares today — and AKBA pps looking forward needs to be 3X that of KERX today to be equivalent since KERX shareholders will own a bit over 1/3 of shares pos merger.
In other words, if KERX at $4 today, AKBA needs to be at say $11 to be equal.
The .3753 conversion for KERX shareholders is quite the shaft.
KERX ownership has been the nightmare of all nightmares and shareholders just got screwed bigtime.
ALL IMO
If my calculations are accurate, KERX shareholders will now be owners of a merged company with same O/S as KERX today with nearly 62.5% ess shares.
This means that a KERX $10 buyout of today would have to be a AKBA $27 buyout of tomorrow to get the same proceeds.
KERX sharehokders got the shaft if my calculations are approx. accurate.
This is the transaction employed, by way of a merger with AKBA at conversion ratio .3743, that KERX s/h were screwed AGAIN!
ALL above, in my opinion (not sure O/S calculations are correct)
If the Ihub post below is accurate, KERX shareholders got the shaft, AKBA shareholders were diluted by some 50+ million shares — but, ABKA purchases today at fire sale $8 have much upside to gain. By contrast, KERX shareholders would need AKBA buyout at $27 just to get the equivalent of KERX $10 buyout of today (pre-merger). Again, KERX shareholders got the shaft.
Given above, AKBA pps shot down today to $8 and already at close to 8X avg. volume — the “powers” buying hand over fist.
On the KERX side, same situation, KERX pps shot down, the “powers” with 8X avg. volume — the “powers” buying hand over fist.
On both ends, the “powers” are positioning to make a killing on future buyout.
ALL above, in my opinion.,,
If you own 10,000 shares of KERX, pos merger, you own 3743 shares of new company Akebia Therapeutics.
Pre-merger, if KERX were to be acquired at $10, with 10,000 KERX shares, you would have proceeds of $100,000.
Pos-merger, with 3743 of AKBA, you need AKBA to be acquired for $27/share to get proceeds of $100,000.
If my calculations are approx. accurate, AKBA O/S pos merger will be at approx. 115 million shares.
At $27/share buyout, Vifor Fresesius would have to pay $3 billion.
Anything less than $3 billion equates to less than the equivalent of KERX $10/share buyout today, pre-merger.
So, again, if calculations are accurate, KERX shareholders of today turned AKBA shareholders of tomorrow, would need AKBA $27/share or $3 billion buyout to generate proceeds equivalent to a KERX $10/share buyout today.
ALL IMO (not sure if AKBA O/S calculations pos merger is accurate)
Vifor Fresenius will be KING of renal
worldwide. Sanofi renal bye bye, they wanted to cutbthe cake and eat it too. Many hurt in process, including Klarman — IMO
“Hooligan” gwells ?? “good luck longs”
LOLOL, Ohhhh the hernia, Doccccccc
Expect the shorts, who are “on thebother side” to put up the fight.
ALL IMO
Sanofi renal business bye bye. They wanted to cut the cake and eat it too — and hurt many in the process, including Klarman.
That’s in the past, unfortunately, after msny years of pain and suffering..
Expect the shorts, who are “on the other side” to put up a fight. As you know, short interest just increased again — back up to 19.8 million.
Clean house Mr. Klarman, the company is full of vermin. I’ll take care of the “hooligans” for you.
“hooligan” gwells ?? “good luck longs”
hahahahahaha, ohhhhh the hernia, Docccccccccv
ALL above, in my opinion, hypothetical
ALL my posts seeminhly being blocked
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Yesssssssssss!!!! Seth Klarman and his forceful heavy hand dumps “a plan”, by design, with the French, that has been bamboozling this company and shareholfers gor YEARS, and goes with Vifor Fresenius.
Now we know why Madison resigned without any explanation - he was pushed out. Now we know why old conv. notes became new conv. notes with $10M infusion and $40 line of credit. Now we know why Baupost dodn’t care his cost basis increasing from $8.08 to $8.44 with new conv. notes.
Now we know why “hooligan” Kenneth just posted the following..
“Why merge?
Access to management
No clear path to profit under current plan
Dwindling capital
Shall I keep going?
No guarantees here but at least we now have a shot at becoming a company someone might buy down the road
Everyone wondered what SK was up to- well, here you go”
hahahaha
SK has just tsken the french monkey off the back of this company and its shareholders. Expect the shorts, who are “on the other side”, to put-up a fight. Now we know why the pps take down yesterday.
Butler is back!!!!!
ALL above, in my opinion, as always — hypothetical