Biotech Values

[DewDiligence]

[On-topic]—A conversation I heard at the gym tonight:

Two men in their late 40s or early 50s, unknown to me, started a conversation a few feet away…

#1: Hey, how’s it going? Long time.

#2: Working on my New Year’s resolution to get here twice a week. How about you? Are you still playing the markets?

#1: Yup. Bought a small company stock at 4 and sold it at 49… it’s now at 6.

#2. Wow! What do they do?

#1: They have some kind of vaccine that cures cancer.

#2: Seriously?

#1: Yes.

#2: That’s amazing… a small company with a cure for cancer!

#1: I was lucky.

#2: Does it work for all cancers?

#1: I’m not sure. I think so.

At this point, I left the immediate area to run on a treadmill.