well considering it takes about 10 years and a minimum of 500 million dollars to design test and sell a drug, the odds are against you an I. It's all about timing and lots of luck when it comes to these stocks. plus only 1 and every 100 drugs make it past phase 1. less for phase 2 and 1 in 5 for phase 3. you might have better luck in another sector like med tech stocks.
Take a look at CPRX - I bought in this am based on a Seeking Alpha article (I know you can laugh). Small market cap with room to run - they should announce PII trial data in the coming weeks for cocaine addicts.