The ImClone stock sales

Insider stock sales at ImClone Systems Inc. was the hot topic of gossip at the 20th Annual JPMorgan H&Q Healthcare Conference in San Francisco last week as the shares continued to plunge in the wake of the FDA's refusal to file the BLA for the company's Erbitux to treat refractory colorectal cancer.

The share sales in October by CEO Samuel Waksal and COO Harlan Waksal, plus a filing by Harlan Waksal to sell additional shares in December, all came before the company announced the FDA's action on Dec. 28...