Researching other Eastern biotech investments I came across PPHM....and I was struck by a similarity in terms of phase II trials. In RVX's case it was a failure to meet end points that hammered the stock, sending it plunging all the way to about 25 cents before buyers stormed in and scooped up the bargains to such a degree that the PPS quickly rebounded for a recovery in of around 100%.

PPHM's stock saw something similar, but for a different reason....their study actually hit the end points, but errors by a third-party laboratory forced Peregrine to restate its initial overall survival results.

In either case though, some savy investors buying the pain of poor fundamental data were able to buy low from the frightened sheep.