Biotech Values

[iwfal]

In essence, a lot of small biotechs are just research labs that couldn’t get enough government funding to make a go of it, so went to the public market instead.

Agree - but that myopic behavior isn’t really particularly helpful even in small research labs. It just gets less visibility. Interestingly biotech CEOs who’ve come from WS, or other areas where they see a LOT of biotechs from 50k ft, seem to have a higher hit rate?