cst = high risk, page-4

A key factor in reducing risk is management capability. This is particularly important in biotechs when there are many development, approval and marketing hurdles to jump. This typically makes biotechs a market timing trade as they generally never get to market. I usually avoid this sector but I do follow and hold CST.

I have been particularly impressed with CST management who through skill and immense personal effort have driven the development and FDA approval of Quantiferon - Gold. Not to mention the upcoming market in Japan - a very difficult market to penetrate.

This has been done on a relative shoestring budget and while still maintaining 100% control of the product.