Investors should take an unbiased view of data and not only listen to management. Ask yourself: Is the drug doing what it's supposed to do?

Look for: getting to right tissue, target engagement, proof of mechanism, and proof of concept

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Incorporating Probability of Success (PoS) is a unique aspect of #biotech valuation investors must be aware of.

It tries to factor development risk into revenue and cost assumptions.

Here is a table of PoS values:

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