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Originally posted by widgeon13
Can you expand on the cause of the rather rapid decline. Hope you didn't have the 401K locked up in that.
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Sure. Phase 3 FDA testing of a new clot-busting drug they've been developing fell through and did not show the expected results. Instant downgrades by a bunch of people, all kinds of speculation = stock price down the tube.
However, if it had been successful, the distribution contract they had with Bayer could've brought in some pretty big-time bucks.
I only had a few K locked up in it, no funds or anything like that. My coworkers wife used to work there, lots of option stock. He lost $30K, most of it was upside though