Biotech Values

[DewDiligence]

I sold Genaera when the CEO stopped talking about improved vision in AMD and started talking about maintained vision: #msg-4454949, #msg-4420204.

In AMD, maintained vision is a euphemism for bad vision, and hence the change in the company’s posture was a tip-off that Squalamine’s promising early results in AMD were not going to be reproduced.

At the same time, the CEO began to spend much more time during investor presentations on the program in cystic fibrosis—another tip-off that the company's prospects in AMD had taken a hit.