The rash of newspaper reports that appeared did not neglect to mention the very timely sale the Waksal brothers had made of their shares. Last July, Sam borrowed $18.2 million and Harlan borrowed $15.7 million from ImClone in order to acquire 4.2 million more shares of the company's stock. Shares in ImClone were trading at about $45 at the time, but the Waksals, along with other insiders, bought their shares from the company at a steep discount for about $8. After the Bristol-Myers deal, ImClone executives sold their shares to Bristol-Myers for $70, a sharp premium; the Waksal brothers' net totaled some $111 million. Had the shares been sold after the F.D.A.'s rejection, they would have been worth far less. Did the Waksals know something that their shareholders and Bristol-Myers did not? "The timing [of the F.D.A.'s rejection] is unfortunate but not something I could foresee," Harlan told The Wall Street Journal.