Telik, A Biotech Blow Up

Why do I avoid biotech story stocks? Just take a look at Telik (Ticker: TELK), the company announced three phase 3 clinical trial results for Telcyta, an ovarian cancer drug and they all missed their primary endpoints. Talk about a striking out three times in a row! No matter how great the phase 1 and 2 clinical results are; you want to see positive phase 3 results before even considering going all in. It really is a gamble when you’re investing based on phase 1 and 2 clinical results. So be careful…