Motley Fool Rule Breakers
biotech pick Protein Design Labs
Driving the company's financial performance was an uptick in royalty revenues received from companies such as Genentech
Biotech stocks are nearly always valued on the market's hopes and dreams for the company's products. That has even been the case in the past with PDL as investors have had to look to the distant future for pipeline products to pay off. Even though the company has some potentially great drugs in the works such as Nuvion, M200, and ularitide, it is no longer the case that clinical stage drugs are driving the story. PDL's stock is not up 35% for the year because of investors chasing pipe dreams. It's because of hard and tangible financial performance.
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