I was being a bit tongue-in-cheek in the first part of my reply to gdollasign with the remark about the riskiest biotech I could find. Not at all suggesting he (or anyone) follow that if I actually followed that I would loose 98.6% of my investment quickly :-). I am actually somewhat risk averse (strange to say for someone investing in biotech) perhaps that is one reason I like partnerships earlier on if the company is burning cash. Not making a comment on Elan one way or the other I only have looked at their Alzheimers programs in passing.