>That many of the stocks on the list were way off their 52 wk highs probably means setbacks to the pipeline in the past year - looks that way for Kosan.<
This was clearly the case with COLY and ENCY, but was definitely not the case with SIRT. Although the table consists of only eight deals, it includes a wide diversity of deal frameworks.
"...way off their 52 wk highs probably means setbacks to the pipeline in the past year..."
That's exactly what I'm trying to highlight here, the risk of buying and holding after a setback, especially when the company has no revenue and is a pure R&D play.