HGSI – Here’s an amusing and perhaps accurate analysis from the HGSI ymb. A good bookend for #msg-2718893.
>> The History of HGSI by: smelky_kid 06/22/06 09:56 am Msg: 66052 of 66169
For 13 years since going public, Human Genome Sciences loudly promised that they were going to cure the world of all its diseases.
The Founder of the company pronounced to all who would listen that once a gene is found, it cannot be re-found. And once it was patented by said company, it will be used to cure a disease. The same founder claimed that human life itself would be extended out by another 50 years based on all of the patented genes and gene sequences that his company was discovering.
The stock went from 2 dollars to 200 dollars, all based on the outlandish promises of this company and its founders. Press release after press release announced that this gene would cure this disease and that gene would cure that disease.
Years went by and target after target failed. The hype of collaborators paying huge sums of money to tap into this celebrated database of genomic discoveries proved to be an elaborate scam. After 15 years, the company still has not treated one paying patient.
All of that leads us to understand why with all of this seemingly good news, HGS does not move up in price. Although it appears that the company is seeing real results, instead of bold statements made by arrogant men, no one cares or listens anymore.
The only way now for shareholders of this company to make money is to take all of these potential drugs away from this company. You cannot erase 15 years of memories of those that have seen what this company has done with their discoveries. Even the removal of Haseltine and the Co-genesis departures will not help Wall Street forget the hype and hubris of this company. So don't ever expect this stock to rise on seemingly promising press releases. <<
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