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Pharmacyclics Inc. Message Board

  • biotechbeagle biotechbeagle Aug 5, 2004 9:57 AM Flag

    Investment Outlook

    Whenever the volatile biotech market rallies, there is always some
    momentum trading which may or may not reflect a company's true value over the
    long run. Investors who wish to avoid being caught up in the tide of
    enthusiasm are well advised to remember a few pointers:
    Patience is what investors need to remember most. This is not a segment
    in which one makes a killing overnight. The return can take three to five
    years to materialize ... maybe a little less and maybe a little more.
    Biotech's wild ride is not for the faint of heart.
    Portfolio diversity is a must. Mix up the innovative neophytes with the
    more seasoned pros and vary your therapeutic markets and hotshot technologies.
    Products are biotech's jewels and while it is difficult to predict a
    promising compound's ultimate success, it pays to keep track of clinical trial
    progress and regulatory setbacks.
    Partnering (with larger pharma or biotech companies) has never been more
    important to the survival of biotech. We are seeing increased activity in
    this area and it's good to know how these collaborations are working out.
    Probability or probably sustainability is key to any company's success.
    If there isn't a strong business model or products are failing early in
    clinical trials, you may have to rethink your choice.
    Profitability, though hardly a necessary prerequisite for going public, is
    the goal. The nearer a company is to profitability, the more Wall Street
    likes it.

 
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