Biotech-100 Index includes 100 small cap biotechnology stocks whose product pipeline
contain at least one drug in either phase II and/or Phase III clinical development.
There is a
90% chance of rejection in early-stage phase I trials;a
50% chance in phase II;
20% in phase III;
10% post-phase III are rough guidelines.
that are in phase II and III tend to show great promise but still have a high
degree of volatiliy.