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See my previous post regarding NABI.

If you have positions in speculative bio-pharm stocks, it is safe to buy protective puts, or even simply speculative puts. Looking at the PUTS gives you a pretty good idea of whats going on.

I learnt my lesson in CYPB, so I bought speculative puts (Nov 7.5 PUT) in NABI (I do not own NABI) for 0.60$ and sold them for $4.00 when the stock fell.

Same with RIGL ... when fell from 22$ to 8$ on Dec 1 from failed trial results.

...Also notice that the Dec 17.50 Puts (QRGXW) are selling at 0.95 b / 1.45 a.

Since RIGL covered call was risky, I bought the Dec 17.50 PUTS at 1.45. I have been rewarded handsomely.

Play safe - protect with PUTS.
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