Biotech=pure arse.
To use BLT as an example (not to denigrate it but simply because I like eating BLT's), it's pipeline is at Phase 1 or earlier. Based on industry averages, it has a 15% chance of commercial success...and it was capped at $200m not too long ago.
If you had $100,000 burning a hole in your pocket at the casino, would you put it on red or black? Much better odds than BLT.
