Rising Fall

For two decades most returns from investing in biotech stocks have been reaped in the autumn. Ploughing money into the sector from January to August has only generated mediocre results. That’s been the case this year. And, as in the past, there are good reasons to expect an autumn uptick. In fact, investors could see even bigger gains than in the past. This pattern isn’t coincidence. Most biotech companies aren’t profitable, and many lack revenues. That means their stock prices are driven by th...