Not sure why but
I felt more confident when I just knew that 5% of biotechs don't fail
The analogy to another market segment with high failure rate, didn't help.
If the analogy went more like,....
The first four times we drilled well and hit oil some bureaucrat in a hat turned up and said
"Nope sorry we [-lied-] erred, your lease is over there, drill there instead."
"Nope, cant drill there to close to the edge of your lease."
"Nope the front of that bore hole faces the wrong way... (they're round...BTW)"
just "Nope."
and now we are on a wish and promise, no new magic problems will arise this time when we hit oil... again.
Oil?: I will put it this way, I knew an elderly man with venous leg ulcer, that lasted several years. My best well informed bet is based on the data I have seen, he would have flown anywhere in the world to trial the stuff. If you'd told him but there is 10% chance it might kill you(and there isn't), he'd have asked "Whats the downside?" and not even been joking a little bit. (neither am I and I was the one that made the decision in the end to pull the plug on him(stroke), so I know what the decision takes.)
So I have both that posthumous, in his name iron in this fire, and my loong $.
My thumbs are getting RSI while I wait.
At least the return to 34.5 tells me a number of other people with money agree with me.
TIS Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held