I have $125,000 invested in this. Many on this board were so certain that we would get the nod, I thought it was a sure thing. Now I am so scared. What should I do?
Seriously consider averaging down if you can. Hard to do when you are scared, but it may save the day. This is not a failed drug. The company has to fix this situation and can do so. I have averaged down to $4.19 so far and may buy more if it stays at this level or lower. AVEO has other drugs in its pipeline. Maybe you can get out with a break even if you get your average price down enough. It could get back to $4 or better but if you do not average down, you are stuck with a much higher cost.
Don't panic. Do not sell rashly. This company may have more life in it than it seems right now. Listen to the conference call. Study AVEO more closely than you did before you bought it. You may be stuck with a long term investment. That is better than taking a big loss now. Don't be swayed by derisive comments on this board. You have not realized a loss until you sell. What if the FDA disagrees with the advisory committee? It will not be the first time. Maybe there will be approval with a post-marketing trial mandated. The drug is apparently effective and safer than alternatives. This stock is not necessarily "dead".
You're getting a divorce, that's what's going to happen. It's ok. After a couple of months of living in the Lackland Storage Facility, you will get on your feet again. You'll date younger women, drink whisky from the bottle and get in touch with your old inner Man. And in the future, you will keep speculative plays to reasonable percentage of your portfolio. Seriously - its ok. You will make more money. Don't beat yourself up over a loss. But be honest with your wife.