Maine, let be fair here, for each successful (got to the safe land of positive cash flow) Bio, there must have been 20 that have gone through $100 MM plus of OP for zilch....Take even a "successful" bio, like DNA, they have raised $7 B of OPM, and so far have accumulated $1.4 B in losses. MU on the other hand, which everyone love to hate, took $4 B of OPM in, but have cum profits of .8 B. AMGN is even more "successful", they have taken in $19 B of OPM, and so far their retained earnings is still negative at around a cool billion bucks. But take a XLNX for instance, they took in .6 B and have already returned in earnings twice as much. When you play in the bio field, there is a lot of "hot air", and we may want to accept this priori, we also will have to accept the fact that one must be nimble. Just look at Entermed chart when it had "the cure for all cancers" du jour....
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