Are you back? I remember the days around the time I first got in when most of the traffic on this board consisted of you and Terry chatting. It took me a while to recover from our disaster and get up the nerve to establish a small position. How about you?
I have maintained the same position in this stock the entire time. I, too, was most dismayed by the events around the FDA panel meeting. Unfortunately, we never learn the 'truth' about what actually happened (outside the meeting). I did, however, listened to the panel meeting. The situation was amazing. Two stories of premeeting agreements which were so totally different.
Clearly, my faith in Maxim's management was greatly diminished by the events around the FDA panel meeting. My comments from my previous post (recent) was directed at the point that the criticms of other posters seems to lack an appreciation of the previous errors of the Maxim' management. Also, nobody seemed to acknwledge that they have done a good job of financing (timing) and getting other firms to pay for clinical trials.
Clearly, my strategy could have been better... but that holds true for anyone who didn't sell everything at the peak of the last biotech cycle.
It is important that my holding in Maxim are part of a high risk portion of my portfolio. I purchased a number of different stocks with the idea of holding them thru to the final decisions. In retrospect, one is left wondering whether any of these stocks will be worth even in the success case what they were at the peak of the last biotech boom.
Sounds familiar. I also have a portion of my portfolio in high-risk biotech that was purchased with the intent to hold long term through final decisions. This is one. I'm re-evaluating my strategy, however, because I think the FDA is stacked against drug approvals. I figured some holding wouldn't pan out and others would, but given the FDA's present bias, I'm not very confident that even good quality candidates will get approval. The broken record keeps repeating "more data" and with each skip goes 40 to 60 percent of the share value. I'm losing confidence that any of these companies will have enough cash to survive to the day that the FDA gets new leadership and the cajones to say "yes" again. I'm still holding MAXM but I've recently bailed on a few others, including NBIX, which I actually walked away with a profit.