Drugs at the Clinical Stage -- In the Pipeline

The Biotech-100 Index includes 100 small cap biotechnology stocks whose product drug pipeline contain at least one drug in either phase II and/or Phase III clinical development. There is a 90% chance of rejection in early-stage phase I clinical trials; a 50% chance in phase II; 20% in phase III; and 10% post-phase III. Companies that are in phase II and III tend to show great promise but still have a high degree of volatiliy.