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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: scott_jiminez who wrote (5532)	1/24/2002 1:06:23 PM
From: rkrw	Respond to of 52153

That was a condescending blather from you. I guess your strategy is to invest only upon approval and with full disclosure via peer review post approval. A safe, risk averse strategy for Ron. Too bad, biotech offers huge potential returns for those willing to take educated risk.

To: scott_jiminez who wrote (5532)	1/24/2002 1:16:28 PM
From: Biomaven	Read Replies (2) \| Respond to of 52153

I think you are way overstating the case here. Let's take SEPR's Soltara as an example. They are publishing their data - but they are waiting until around the time of approval to do so. Does that mean that until I see the published data I should just assume the drug is worthless? Or instead can I take their public claims on efficacy and speed of onset at face value? In SEPR's case I do just that - I assume that if they say it has a 20 minute onset of action with statistical significance and show a graph that looks reasonable and consistent to me, that they are telling the truth. Of course there will be some cases where the company is deceitful. But if you want to invest in biotech you have to get used to dealing with uncertainty - it is all about risk-adjusted return. I fully understand that until I've seen published information in decent journals (or better yet the AC transcript) I'm going to be dealing with the company's spin on their results. But that's part of the game. To suggest we should just disregard the company information altogether, would make investing in early stage biotechs virtually impossible. Peter