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Biotech Stock Mailbag: Exact Sciences

News flash: International clinical trials are standard practice these days. No big deal. Left unsaid by Cel-Sci's management is that the company had to go overseas to find patients because demand for Multikine in the U.S. is probably tiny due to the underwhelming efficacy data coming out of the drug's phase II study.

My favorite part of the Cel-Sci shareholder letter, however, is the part where Max and Geert talk about how "games of greed" played by former directors, hedge funds and anonymous Internet rumor-mongers threaten the company's success.

"We believe that the results of the Phase III study will ultimately dictate our success, and we further believe that, given the huge amount of value our new cancer therapy would create, the games of greed will continue during the Phase III study. We are already seeing lies being spread on the internet about our study and our Company. People claim to know that the study was halted, that production of Multikine was halted, that patients were having problems, all falsehoods designed to influence others. We are dedicated to proving that Multikine works and that is our answer to those lies."

Like I said, an instant classic.

--Written by Adam Feuerstein in Boston.

>To contact the writer of this article, click here: Adam Feuerstein.

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Adam Feuerstein writes regularly for In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.
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