"Wouldn't you have rather bought,
say, IMNX before it had any drugs on the market?"
Hmm..probably not. I would have sat on a lot of dead money for a long time. (It took IMNX five years to get back to its 1992 high.) That would have taken more blind faith than I personally am capable of. <g>
And after taking a quick look at the numbers, I have to say I certainly wouldn't buy it now, with a p/e of 610 or so, accompanied by a sales decline this year of over 30%.
I guess the problem is that it is not always the inventor himself who profits from the invention. Originality, innovation, etc., is one thing; business sense & aptitude, quite another.
As great as the ideas may be that some of these folks are developing, how do I know they have the savvy to turn it all into a money-making proposition -- for their own company, that is?
jbe
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