Soon-Shiong: Investors should be patient with biotech

Patrick Soon-Shiong

In science, there's a 10-year horizon for major innovations to come to fruition, biotech billionaire Patrick Soon-Shiong said, and while that timeline may not jibe with the expectations of many investors, success in the field demands patience. Speaking to the Wall Street Journal, the former Abraxis BioScience CEO said it would be inaccurate to bill the latest boom in biotech IPOs as a bubble. Even the best of the latest entrants will have their ups and downs on the market, but investors should look beyond short-term gains and focus on the future of a company's technology, Soon-Shiong said. "The market is not scientifically driven," he said. "People should analyze the fundamentals, not the stock price." More

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