Biotech Values

[DewDiligence]

I typically reserve Zebra's Law for one- or two-trick ponies.

I don’t impose such a restriction—Zebra’s Law, as originally posited (#msg-23784371) applies to a company’s lead program regardless of how many other programs are behind it in the pipeline. In fact, some of the most extreme abusers of Zebra’s Law I’ve encountered over the years have been companies where the pipeline was seemingly overflowing with candidates. (Pipex/AEN comes to mind in this regard.)

I’ve observed that message-board posters tend to be quick to apply Zebra’s Law to someone else’s biotech stock, but they rarely if ever say it applies to one of their own stocks.

p.s. None of the above should be taken to mean that I have a negative opinion on CLDX or any of its specific programs.