You're right, Bosco. Actually I did do my own dd, but in the light of the opinions of someone I respected.
In retrospect, in the hindsight that experience grants, biotech investing should be done very cautiously: there are only a handful of biotech companies that are able to focus on details and execute a plan to solve detailed problems while simultaneously focusing on the big picture. Biotech is such a young industry that there are few experienced managers and professionals that know the ropes - science, process, manufacturing, clinicals, marketing, sales. But, very few small biotechs can come to grips with their limitations - they don't realize that they need to walk before they run.
I recommend to anyone who reads this that they think about biotech in terms of a whole process of bringing a product from the lab to market rather than a cool product that has promise for an indication. |
