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Weird day.
BUT I think there's another 400M-600M shares in convertible debenture that could flood the market if the debts aren't paid.
There is definitely no shortage of future revenue opportunities for ILNS. The problem is that they have no money right now. They need cash for operations so they can actually take advantage of some of this potential.
Agree that either of those companies ought to seize the opportunity to buy low on ILNS' patent portfolio.
Right now the court is reviewing Pfizer's motion to dismiss. Their only play is to get it dismissed on the grounds that they've laid out so far.
If the dismissal fails, I'm pretty sure they'll settle immediately. They don't have any arguments outside of their argued interpretation of the contract.
We should hear a decision on the motion no later than the September court date.
I wonder if the launch of the phase 2 trial leads to a milestone payment. This company could really use some cashflow.
Agreed. I'd be pretty stoked if they sold it at $.20 a share.
That's not the buyout I'm holding my breath for. Will anything ever happen here with ILNS?
I think there's a very good chance there will be a settlement if the motion to dismiss is shot down. I think their argument that the milestone only activates in the case of infringement is their only play, so if it fails, I doubt this goes to trial.
The last motion was decided within 24 hours, but there is a lot more documentation and complexity to the current motion. I still think we could hear something sometime next week.
We absolutely don't want the case dismissed. We want the case to go to trial or for Pfizer to settle after the motion to dismiss is denied.
The trial date is set, but yesterday's arguments were on the motion to dismiss. There will be a ruling on the motion before the trial date (obviously there has to be, because if they dismiss the case there won't be a trial).
The final arguments were submitted yesterday. No idea when the judge will make a ruling.
Reply papers from Pfizer due tomorrow.
I think that's probably a bit optimistic, since it would be putting the value of the company at $200MM+. However, I could see something in the $35MM-$75MM, which could be anything from 15 to 30 cents. The most important part is figuring out how many shares are floating around out there once all the debts are paid off.
They just keep stalling.
That's a good point. My guess is that they would sell individual pieces of IP if they could get enough to cover the debt (and woo a new leader). Otherwise they'll probably take offers for the entire company.
that makes sense. so a $30MM purchase (which I consider a fairly minimum price) would result in about $0.11 share price.
I could live with that. but $70MM and $.25 a share would be better.
Is it that simple? If any of that total is from convertible debenture, then they would pay back the loan with the sale proceeds instead of release the shares, reducing the total amount of diluted shares.
My guess is that $30M would be about a nickel per share, but I'm also hoping that ILNS is worth a bit more than that.
That's very promising. Viropharma paid $33MM up-front plus milestone payments for development.
Anyone know what a mere $30MM would translate to value-wise for the outstanding shares?
Sounds like they're looking for buyers.
time for another dead week.
Just twiddling our thumbs. Anyone want to post one of those lists about all the great things we're waiting to hear about? This board could use a little motivation!
Didn't hear anything about OX1 on this one. Maybe next time.
I really hope he's out there trying to sell the IP to the highest bidder.
Who could be buying in at this point?
What do you think will happen first?
- News from Viropharma
- Results of PFE suit
- PR on someone's intent to purchase this damned company
- The field (anything else)
Awesome. I hope it results in some much-needed PR.
If anything ever happens with viropharma. When was the last time we heard anything?
I mean, there had to be dilution for the precipitous fall we've seen recently, so the current PPS should still be the bottom.
Pushed the court date again on the motion to dismiss. New date is July 2 instead of this Friday. Plaintiff's arguments are due tomorrow, though, so we should get a case filing from Intellect.
Is the 10-Q due today or Monday?
Ouch is right--this makes it sound like Dr. Chain might be suing ILNS soon if he doesn't get his money.
Yeah, it said they had disagreements over compensation, but they didn't have the complete details.
Also, what do you mean "the gig is up"? You really think nobody is going to take the reins and try to generate some revenue with a company that has contracts with viropharma, pfizer, and lonza?
10-Q will be late, as is the custom here. I'd expect Friday, since 5 days from extension filing is a Sunday. Anyone have any idea if there's any potential for revenue this past quarter?
So clinical trials aren't kicking off until the second half of the year?
whenever you're feeling bummed about this stock, just go back and read about the viropharma deal.
they should announce clinical test results at some point soon, which could be a big turning point.
http://viropharma.com/pipeline/vp20629.aspx
i do hope we get an announcement about the company's strategic direction in light of the recent leadership changes soon though.
I hope you're right! I hope he sells the whole thing soon. God knows it's worth more than half a penny.
Nothing that you're saying makes any sense.
Lawyers represent whoever pays them to; he has no loyalty to Pfizer just because he defended them in the past. It's not a conflict of interest. Is it a conflict of interest when a defense attorney becomes a public servant, or vice versa? No.
Not sure how relevant this news is to the company. Dr. Chain is clearly a smart guy who's passionate about AD treatment, but how savvy of a businessman he is remains to be seen. As for this being a dispute over compensation--he makes $700K per year! And he owns a ton of equity. He must be getting some serious offers to be disappointed with that situation.