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Biotech Stock Mailbag: ASCO

Celgene is hitting all its numbers and had a great ASCO but the stock is trading near its lows for the year. Doesn't make sense to me, but then big-cap biotech, in general, is so out of favor right now.

In the under-$5 stock category, the best data I saw at ASCO was from Ziopharm Oncology (ZIOP) and its experimental drug palifosfamide in soft-tissue sarcoma. A phase III study is expected to start in the middle of this year.

Thank you, Wilford D.W. III! He emails , "Adam, when people are so negative in their comments towards you, they need to take their negativity somewhere else. The Sunesis Pharmaceuticals (SNSS - Get Report) and Delcath Systems people were particularly vitriolic in their negative comments. Frankly, if I were you, I would not publish any of the demeaning comments directed your way. These small-minded people apparently cannot tolerate any comment that does not extol the virtues of their darling stock.

"People make money when they can objectively evaluate a company. Blind devotion to any company (or any cause for that matter) will cloud any objectivity towards that company. I thought your reporting was even-handed and fair. I appreciate the job you did at the [ASCO] show and continue to do in your column. My only wish is you would write your column more often."

Don't get personally involved or emotionally connected to your risky biotech stocks! Good advice from Wilford.

@BioRun tweets, "You have dealt with Cell Therapeutic (CTIC) nut jobs, Delcathers can't be nearly as bad.

I prefer the term "Delcathians." True words, BioRun, except for this guy:

Stephen K. writes, "Thanks for [bleeping] all of us shareholders in the Delcath fiasco. You're a real [bleeping] winner. This isn't the first stock that you have screwed up for me. Is it really worth the money that they pay you to screw over people? I hope someday that I get to meet you in person; see I am dying of cancer and emphysema so it doesn't matter if I go earlier since you just totally [bleeped] up my finances. You better go and retract all your negative comments on Delcath. I hate you. I am retired military. [Bleep] you and enjoy my money that you stole through the hedge funds for me."

Sad. No other comment necessary.
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