Stockwatch: Those That Cannot Be Successful Raise Money

It struck me last week that that the quote attributed to George Bernard Shaw – "He who can, does. He who cannot, teaches." – can be modified to apply to an increasing cadre of small- and mid-capitalization life science companies. Success for these companies that resonates with investors is either to be acquired or to reach a valuation that is too big to be acquired. The opposite of success is not so easy to define since clinical, regulatory or commercial failure usually means coming back to investors for a bail out.