$IVST However, Mr. Chan notes that he sees a vast majority

$IVST However, Mr. Chan notes that he sees a vast majority of the biotech innovation being accomplished by small- and mid-cap stocks. While larger stocks will serve as better valuation-based opportunities, according to the fund manager. Mr. Chan notes that “the outlook of the small and mid-cap names is as exciting as it’s ever been,” as drug cycles and patent cliffs draw near for larger biotech companies.

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