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biomaven0

09/24/17 11:31 PM

#213817 RE: iwfal #213807

My thesis is that for a development-stage biotech, the second and third pipeline projects are basically irrelevant. If the first one wins they are good; if they first one fails they are going to tank badly.

Personally I think those earlier-stage projects are mostly there so the execs still have a job if their first program tanks. On average, I'd call them value-destroying.