ARTICLE | Finance


December 18, 2000 8:00 AM UTC

After suffering a regulatory and investor thrashing that knocked 70 percent off the company's value last week, Maxim's market cap of $185.9 million now stands below the $190.4 million in cash it had on the balance sheet at the end of September.

The sell-off began on Tuesday, with the shares diving $13.313 (44 percent) to $16.75 on 7 million shares after the FDA posted online its review of the company's Maxamine histamine immune stimulant, raising questions about the product's efficacy in combination with interleukin-2 to treat advanced metastatic melanoma...