fda approval

The one thing Ive learnt from investing thus far in biostocks, is the hurdle of the FDA.

My last burning was from CXS ( Chemgenex ).

Great drug but knocked back by the FDA until further testing can be done regarding screening of patients.

The sp got pummeled.

The royalties are dependant of FDA approval

" Next milestone payment of US$87 million, subject to FDA
approval of Axiron"

Guess having said that, ACR are cashed up and talking up possible dividends in 2011.

What are people's thoughts on FDA approval?

I'm planning on being very cautious around the FDA process. Until then I'll enjoy the ride.