The current bull market began, in my opinion, in 2009 and should last into the 2030s. Coming out of a bear market, investor focus is initially on high quality companies whose stocks are attractively priced and, in most cases, dividend-protected. Over time, investors migrate down the market cap chain, seeking opportunities in stocks that have yet to appreciate. Furthermore, in the case of small pharmaceutical companies, many become attractive takeover candidates. Over the past three months, it is clear that we have arrived at the stage in the investment cycle where the small and micro