Biotech investing for the non-scientist part 2 or 3 (I lost track): when to buy and sell a biotech stock. 🧵

(Part of an ongoing series on risk management in #biotech for retail investors.)

(Not advice on what to buy or sell and definitely not a solicitation of any sort.) In biotechnology, where valuation is less an exercise in calculating the present worth of assets and future cash flows, and more an estimation of making more out of less in between financing events, the milestone calendar is particularly important.

Have not tweeted much about #biotech lately, but a recent grad asked for some advice (about to move to the HC team at an IB.) Passed these along:

First, a few tips re science/medical data: 1) look at the name of the disease — is it highly specific? (“TRK-fusion positive tumor”) or a random label (“Alzheimer’s Disease”). The more specific the understanding of the disease — especially on a genetic level — the more likely that things will work.