1999 Biotech Superstar Got Bailed Out By Anthrax antitoxin?!
The famous Company that was going to revolutionize drug discovery was saved in 2003 by a government funded bioterror program for Anthrax and later a Lupus drug.
Human Genome Sciences was sold to Glaxo (GSK) in August 2012 for $3.6B. Glaxo was already partnered with HGSI for the Lupus drug Benlysta. As of March 31, 2012, since inception Human Genome Sciences accumulated a deficit of $2,894, 498 with a book value of $377M. Over 19.5 years since its IPO in 1993 the stock appreciated 145% or about 7% a year not including the cost of money. The stock peaked in 1999 at $100/share when the Company was on the forefront of “druggable genes” or the molecular basis of disease.