Biotech stocks can be among the riskiest investments on the market, but despite the tragic plunges, there are also companies that are able to successfully launch innovative drugs for unmet needs, adapt to a rapidly changing competitive landscape, and succeed over the long term.

What qualities should biotech investors be looking for? To help shed light on this topic, health-care bureau chief Max Macaluso discusses biotech investing with Charly Travers, associate advisor for Motley Fool Million Dollar Portfolio. In the following video, they discuss the reasons behind the success of two of Charly's favorite biotechs.