Background: The biotech/biopharma space is coming of age. An expanding pool of seasoned executives is finding improved science-based targets with what strikes me as improved R&D efficiency.
This situation is meeting a favorable macro milieu, with rich societies willing to, if necessary, inflate the money supply to provide what tend to often be generous reimbursements for important drug products that improve the treatment of existing diseases.
This backdrop suggests that investors of a certain degree of adventurousness may consider buying shares in biotech companies with products advanced enough in development that revenues and profits can be estimated. Therefore, shares of development-stage companies to be reasonable investments - in my view. (Note that I am not an investment adviser.)
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