24/7 Wall St. Most Overpaid CEO Of The Day: Cell Genesys (CEGE) CEO Stephen A. Sherwin, M.D

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Cell Genesys CEO Stephen A. Sherwin, M.D made $1.3 million last year, with $577,500 coming from base salary. He did so well, in the eyes of the board, that his base was raised to $602,500. Who knows how well he will do with bonuses and perks.

CEGE blew up today. The company ended a clinical trial of its prostate cancer vaccine GVAX because patients who were treated with the vaccine were dying more frequently than those only given a standard treatment.

That bit of bad news took the shares down to $.69 from a 52-week high of $4.67.

The market cap of Cell Genesys is only $62 million now, so Dr. Sherwin is doing a bit too well.

Douglas A. McIntyre