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Yeah I guess a way to think of it is -- these biotech companies are just cash burning machines and deserve a very low valuation until they get good data on a compelling indication. So there are a lot more 10-20 baggers out there waiting for their drug(s) to prove themselves in trials.

But also -- all these AD plays are going after the same patients. Even if you have a good drug, it may not be the BEST drug and ultimately may not get approved or get good market share. So to be LTBH you have to really understand the competitive space. Right now I think all Alzheimers drugs are in favor, people just throwing money at the category now that FDA approved one drug, they think BIIB's results are relatively easy one to improve upon.
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