<< They only care if drugs get approved for big markets that will make them money. It's that simple. >>
Good note! I've just got one question. If it is that simple, how does one evaluate a biotech stock? Obviously investors pour hundreds of millions of dollars into biotechs.
LGND was over $17 per share last year. They were a long way from NDA approval. Now they are around $11. Is it your point that LGND will not go back up to $17, or higher, until they get a drug approved for a large market? Then, why did they hit $17 last year?
ENMD went up $70 per share, after a six month old announcement about them cutting off the blood supply to tumors in rats, was re-released.
I think that you are right about the Market saying, "Show me the money", but I've played clinical stage biotechs for several years, and have done well, without the biotechs having a drug on the market.
Also, if it was well known that clinical stage biotechs never did well, noone would ever buy the stocks and we would never see a biotech rally, and they would never be able to issue an IPO, because noone would ever buy it.
Nevertheless, in your opinion, where does the sector and/or LGND go from here?
Thanks, Bob
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