Everyone goes after the money, as the successful pioneer gets both the intial foray into the market, the risk and tehn intense profits that goes along with the journey, and then the intense competition. They have paved the way for other that have improvements. I had the opportunity to get to know Lenny Bell. An intense man that gave up a tenured position to go after his dream. Then it happened accidentally in the case of ALXN, but that is a different story.
One intense learning for me in this field and in the business of investing based on one's appreciation of all the science is this. This is still one damn tough game, and the timing can be so off, yet the rationale can be so right. Having intense knowledge in an area can give one more concerns than rationality might dictate.
My bottom line here, is that all the time tryiing to figure out the odds for OMER success in the complement field, I continue to wait to reap any substantial profit. After all, that is the name of this biotech investing gambit. Timing can be everything, especially in the early innings.
Best of wishes and luck to all. As one musician once said, 'time is on my side'. I'll give it at least a year...I know what it is like to give up on a stock too early, yet knowing the science (ARNA).