The pumpers keep posting BS articles about XOMA; the latest from the San Francisco Business Journal.
Take a look at this New York Times article, from 1991. Soooo much promise:
And yet, in the end, XOMA failed.
And here's another article from the New York Times, circa 2007:
"Xoma, which Dr. Scannon started in 1981, has never earned an operating profit or marketed a drug of its own. And in the quarter-century since its birth, Xoma has managed to burn through more than $700 million raised from investors and other pharmaceutical companies."
And since 2007, XOMA has burned through even MORE cash. Has initiated a REVERSE SPLIT. And the stock price has dropped from a split adjusted $66.00 to its current $3.30.
From the New York Times: "Two XOMA drugs on the verge of commercialization fail to win F.D.A. approval in the early 1990s. A drug to treat a deadly bacterial infection does not win F.D.A. approval. A drug to treat acne fails in a midstage clinical trial."
And now, XOMA is touting 052. Anyone here to guess what the final outcome will be?
Scannon receives over $500,000 a year - year in, and year out - for doing nothing.
Anyone here think Scannon drives into the office everyday, sits down in front of a computer, and annually contributes $500,000 worth of work?
I'd wager there's more than one XOMA employee reading this post that is laughing out loud envisioning Scannon at "work."
Here's the key to XOMA, folks, and one I learned long ago: Trade it. It's really that simple. Because the only "investors" here are longs who bought and held, and as a result will *never* see their money again.