Innovation Pharmaceuticals Inc (IPIX)

[biodoc]

About 20 years ago I got really excited about a company that was working on a potent TNF-alpha antagonist that had potential for treating a wide range of conditions. The problem was that the drug was thalidomide, a terrible teratogen. As you can imagine, it was hard for many to take this company seriously in late 1993. I understood the story. I understood the science. If I recall correctly, they got compassionate use approval for treatment of leprosy but were really focused on getting approval for treating multiple myeloma. Long story short- that company was Celgene. And that 10,000 shares I owned in September of 1993 (about $70,000 worth) would now be worth $23,591,443.67 if I am to believe this historical calculator:

Celgene calculator

I'd like to tell you that I can verify this because this is the value of my account but I can't. I sold Celgene for a small gain because I was looking for more near-term price action and saw what I thought were some really great short term opportunities. Impatience of youth! Fortunately, I got some friends in who were more patient than I and they made millions.

I'm older (but not that old), more patient, maybe a bit more forgetful, and very, very confident that I will be selling my Cellceutix shares at prices much, much higher than $7.50.

Best of luck!