@ActonUp good advice and well said.
I agree with all you’ve said; right now I keep a large cash position and my portfolio is not as concentrated as most folks’ here. So as a percentage, “medium” for me is probably more like “entry” for most folks here. I’m concentrating more as I learn more, but it’s a journey for me. I’m happy with the steady progress I’m making.
If $LQDA gets Yutrepia to market and it sells, I think it’ll be high margin, repeating sales. And their PRINT technology can potentially open adjacent revenue streams. So imo their revenue model potentially shares some of the properties of SaaS. If all goes well, their current market cap of under $1B is a bargain imo.
I think I’ve been tracking $LQDA for at least three years, maybe more. I’m pretty sure $UTHR can’t do anything at this point to keep Yutrepia off of the market. But I could be wrong, and $UTHR is sure to keep harassing $LQDA in any way possible; they have no compunction about playing dirty pool and they have a LOT of money to throw around.
I also have been keeping tabs on several biotechs, in most cases for several years or more. I’ve learned the hard way that most of them don’t pan out, though I’ve had my successes. I got lucky with $NVAX; I got into it just weeks before COVID hit; it was a 20X for me. I got an 18X on Dermtech warrants and there have been other successes. Overall though I’d say my biotech successes have barely kept me ahead of my failures.
I posted about $LQDA in the spirit of remaining vigilant to the possibility of additional types of repeating revenue models.
I do agree though: biotech investing is HARD and the chance of success is LOW. That said, I think $LQDA is worth looking into if you are both excited by asymmetric bets and (…as you’ve advised) prudent with your allocation.