I don't disagree. For the most part biotech investment outcomes are binary. You ...

		refurb on March 31, 2014 \| parent \| context \| favorite \| on: In Some Ways, It's Looking Like 1999 in the Stock ... I don't disagree. For the most part biotech investment outcomes are binary. You either win or you lose (there are some exceptions). And since it typically costs $5-10M just to be able to test your drug in the first human, when biotechs fail, they fail hard.