Investors have spent the past few weeks assuming the glass is half empty for BioChem Pharma Inc. During the AIDS meeting earlier this month, they ignored the popularity of the company's Epivir 3TC drug in combination therapies and focused instead on other treatments.

This time around, stockholders lopped $4.50 off BCHXF shares last week on the news that Emory University filed suit against the Laval, Quebec, company and partner Glaxo Wellcome, after the university received a U.S. patent on 3TC. The stock closed at $29.75, down 19 percent from its price of $36.875 on the Friday before the AIDS meeting.