Noone likes the delay in completion at this late stage of the Phase 3 clinical trials, but its only a few months (i.e. selloff overblown).
Seriously considering adding to position at these lower levels; most decreases not accompagnied by large volume, more a slow drift down, and possible Mkt Maker selling manipulation too (weak sellers scared out).
They have the cash already to get to and through the clinical trials, thus its a buying opp vs selling scared. Shares all still in sock drawer.
As an aside, and for what its worth, I was speaking with a biotech company President today who mentioned there was some rumblings in the analyst community about a small Company called Discovery Laboratories...so it wont stay undiscovered too much longer IMHO.