I sell out completely
What you are referring to is a free carry , If I sold my original Value of Investment Funds and left the rest in the portfolio..
Because I hunt Catalysts and Inflection Points , I'm generally across 12 to 16 companies at a time... there are 196 Biotechs and Baby Pharma on the ASX.
FDA Orphan Drug Approval is one of the very significant Catalysts , there is also a known Phase II run up sweetspot,,,
Everyone to their own ,,BUT i used to suffer from "Personal Financial Advancement" .."Greed" and had made significant gains in the past only to watch them be diluted with further CR's or Management taking on board new challenges...
Imagine 20 Biotechs at the start line,,, LTH invest on the Bio at the start line and wait for it to run the entire race.
During the race the lead will change multiple times and some will stumble , Traders look to back winners but only for short periods of time,,,I'm generally not around when they cross the finish line..
Here's why ,, Only 4% of Oncology Treatments make it to market , 96% fail to Commercialise $$ the Treatments/Drugs. But during the Company's life it may have run up several times on Positive Scientific Progress,, Trial Results ..
A lot of Biotech is "same same",, even BOT when it was pushing for the Acne ,,skin Treatments , One Big Pharma patented Hydrogen Peroxide as a treatment 4% to 15% concentrations , they then licensed this formula to roughly 1400 companies to manufacture their own brand name and packaging Acne Treatments .
Some are cluttered "Same Same Drugs"
This BOT Hyperhidrosis Treatment will be a Big fish in a small pond,, almost Disruptive Technology that is sure to effect BP income,,,Sometimes with New Tech from New Players it's not about what it can revenue but what damage will it do to current Income Streams.. plus BP can amplify Profit from New Tech as BP generally control the supply, marketing and Sales.."Retail Space" "Goverment Procurement Contracts" " Accredited to access Private Insurance "
You can be sure that current Players will be watching with baited breath the FDA application,,, You can be sure BOT is on the radar , probably the topic of discussion at many nervous meetings,,,,,
You are probably aware that circa 5 years ago there was a momentous shift with the reduction of In-house R and D amongst most BP.
They now have Opportunity Scanners actively out in the market place,, the cost of in-house R and D was becoming prohibitive across multiple Diseases and ailments , so now "to use a Chinese Term" they like to be 'Picking Flowers" no need for ground, cultivation or Risk,,, watch the market place and simply buy the winners ,,picking flowers that have bloomed already..
and This is what BOT Looks like IMHO
The hyperhidrosis treatment market is currently valued at ~US$ 1.2 billion, and is estimated to grow at a moderate speed for the next decade.5 to 6% pa.
(20min delay)