The right mind-set is hard to achieve in the biotech company. It is remarkable to run a company for eight or nine years and have no real existing business to lean on. Well, I believe that long-term business plans are certainly 100 percent unknown. At least the first year can be reasonably predicted, but years out are predicated on the results of the earlier years, so certainly long-term business plans need to be very flexible in the biotech industry. And as in-house as well as outside counsel, we need to be very flexible in our understanding of this unknown.
Products take a long time for development, particularly in the biotech industry.
So, many times, product development, at least for four or five years, is not necessarily achievable. Perhaps some of my colleagues can comment on that. Well, I think everybody needs to be very clear about what the risks of biotech are. The real key to a successful biotech company right now - I guess there are really two keys, good science and money. And if you don't have the capability to raise the financing, you are not going to have the capability to pursue your science.