@dansfera: The silent killer of small-cap biotech value? It isn't just bad trial results—it’s the relentless pressure of dilution. Savvy analysts always preach checking one critical number first: the company's cash runway. A solid 18 to 24 months is the recognized safe zone, providing the necessary buffer to absorb unexpected delays and successfully reach those make-or-break milestones without forcing a new, value-crushing stock offering. This is the key defense against watching your shares become less valuable overnight. \#Biotech \#StockMarket \#InvestingTips \#Dilution \#CashRunway