Biotech Values

[rkrw]

No doubt there's been some great takeouts and they're on the rise. But that's the numerator. What's the denominator of small biotechs with tiny market caps, running short on cash? There's been a few awful reverse mergers, a bankruptcy and a few others where bankruptcy is very likely (gtop, fvrl etc). Not to mention terribly dilutive firesale or worse financings.