A Comprehensive Essay 
Part 4
Our fair evaluation approaches of biotechnology and biopharma companies differ depending on the sizes and statuses of the firms. We reiterate our conviction that causing a selloff of development stage biotech stocks at every announcement of quarterly financial results because of lack of income is irrelevant and unfair to the firms and their stockholders. It does not make sense that analysts ask for better incomes when most of these firms have yet to put a product on the market, their only way to generate revenues.    

We have stated that the most important criteria we try . . .