Speculative investors and patience rarely go hand in hand. Nevertheless, if you’re looking to invest in the small-cap biotech sector, patience is a requirement. Most, if not all, of these companies are still in the clinical stage, meaning they have no commercially available drugs or therapeutics.
It also means these companies have negative earnings (i.e., are not profitable) and have little to no revenue. Success often hinges on the outcome of a single clinical-stage drug or therapeutic.
