rosetta. It's refreshing to read an 'adult' post on these boards. I suppose I am about where you are with XOMA, having had a position for only a few months. My past experience bio has been with Seattle Genetics and it has done very well over the years for me. (I also own CLDX and IMGN as I am a believer in ADC methodology) My 'canary in the coal mine' on these biotechs is the Baker Bros. When I learned of their position in XOMA, I followed suit. I would like to know more about the company, like you, but do see a few things that I like. First of all, many of these biotech companies are not adequately funded initially. Research and trials burn cash at alarming rates and many simply run out of money, need to issue additional shares, and dilute the existing shareholders. XOMA, with their recent offering and placement seems to be in a good cash position for some time. I find that reassuring as far as the investment goes. I like the fact that they stated that they have 2 phase III trials underway which, given they meet endpoints and objectives, could be huge catalysts in the near term.