maxim pharmaceuticals crash

Maxim Pharmaceuticals lost 48% yesterday and nearly 7% today after the company had to admit that their lead compound , a histamine based drug called Ceplene didnt work against leukemia . The had already completed a phase 3 trial in combination with IL-2 , but a second Phase 3 stand alone showed no improvement . The drug was being used for various applications , and the failure leaves their pipeline looking bare . They have been burning 40 or so million a year to find at this late stage they have nothing . Leaving shareholders who got caught baying for the directors blood .
Illustrates the value of a co like Solbec , already has clinical proof of tumour reduction as a stand alone agent at this early stage .