Biotech Investing Approach

• Focus on individual biotech companies and their pipelines rather than market volatility.
• Look for undervalued companies with an enterprise value at or below one times peak sales.
• Prioritize late-stage and commercial opportunities over preclinical or early-stage clinical trials.
• Manage risk by diversifying your portfolio and avoiding overexposure to any single sector.
• Regularly scan for opportunities but only invest when there's a compelling story and a favorable risk-reward profile.