It is our view that there is substantial undiscovered or underappreciated value in the life sciences sector, specifically in biotechnology, biopharmaceutical, specialty pharmaceutical, and diagnostics and device companies with innovative basic science, proprietary technology platforms, robust clinical science, solid management, and sufficient financial resources. Irrespective of economic and market conditions, basic and clinical research continues adding value as the products these companies are developing progress through clinical trials, through regulatory assessment, to commercialization, and growing market penetration. The bottom line is that the public demands and readily adopts innovation in medical care solutions, and companies operating in the life sciences sector are determined to provide them. Our Life Sciences Equity Research analysts are focused on companies engaged in the discovery, development, and commercialization of products for the treatment and diagnosis of cancer and metabolic, renal, cardiovascular, infectious, central nervous system, autoimmune, and inflammatory diseases and disorders. We target equities of smaller capitalization companies where a new discovery, clinical trial success, regulatory approval, product launch, or market penetration has the greatest potential of increasing market value and return on investment. Our research also includes distressed securities when we believe a significant decrease in the share price of a company is unwarranted based on our analysis of the value of its assets.
