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No. of Recommendations: 3
I just talk to as many people as possible.

Also, lotsa biotech names trading at net cash or zero value for a pipeline full of potentially billion-dollar drugs.

I mean, is a mid-large cap biotech firm gonna go 0/4 on 3rd/2nd stage FDA approvals? Sure it's possible but highly unlikely. Value can't be zero, just can't be. And if they go 4/4 look out! Etc.

tl/dr; binary events are hard to value.
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