Biotechs are fascinating. They have such great promise, yet very few of them actually turn those promises into money. Cures for all types of cancers always seem imminent with promising (there's that word again) results from mice or small control groups. Phase I testing is completed and all kinds of good stuff seems possible. Then something usually happens. Usually not very good things.
Most of the time, it's discovered that what works in mice doesn't work in men (or women). Or that the group was too small for meaningful data and when a larger group is studied, the efficacy isn't there. Or as soon as there's a bounce in the stock price, much more stock is issued and dilution occurs.
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