GNFTF - 5 European Biotech Bargains
Introduction
European biotech stocks have a lower valuation in general than American biotechs. It is an observation that many sector followers have already made. In my opinion the cause can be found in the overall ecosystem for biotech. In the United States there is more appetite for this particular type of risky investments. As a result American biotechs have higher valuations but also easy access to cheap financing. This is also reflected in the large cash burns (>200 M.$ per year) that American biotechs can afford to spend on R&D (e.g.MGNX, ICPT,