I've been lurking on the Yahoo IMCL board and, more recently, on the iHUB board since 1998 when I bought my first 200 shares of IMCL. I rarely post because though I'm a physician I'm not a scientist and I don't know much about finance. Over the years I've kept buying and now have close to 2000 shares. I was impressed by Sam Waksal's efforts to develop and bring Erbitux to market and of course, dismayed by his misguided attempts to save his fortune. I have watched subsequent boards and CEO's mismanage and plunder ImClone but I've held on in the hope that Erbitux and other promising drugs in the pipeline would fulfill their medical promise and become profitable.
Now the current board urges me to stay the course with them and I think: for what? So they can garner more options and appoint more VP's? No, I will not stay their course. I will cut my ties to them and run to Carl Ichan. I guess he's out to make a buck for himself, but I'm hoping he also wants to fulfill his old friend Sam Waksal's dream.