The Phase III results to date are not encouraging.

Biotech takes big risks in areas of unmet need and they do that in an innovative way, ... As [Capt.] James Kirk [of the fictional starship Enterprise] says, it's not afraid to go where nobody else has gone before.

[NXY-059] could be a billion-dollar drug, because there are so many stroke victims.

It's encouraging. But it's all very preliminary.

There's a perceived halo effect, which is negative, that we don't agree with. Each of the cancer vaccine companies should be viewed as different companies.

This news is driving investor interest in the area. My caution is that it's still emerging and it's hard to tell who is going to be the winners. I don't like people buying on the hype.

It's exciting and the potential is enormous, but the challenges and the risks are formidable.