Gene therapy has been out of favor but we're finally getting to the point where the products are in later stage clinical trials.

The IPO window for biotech stocks is closing.

They would love to have the colorectal go ahead because that's a larger market,

There's always risks when you haven't seen the clinical data.

There will be a lot of competition out there by the time these products get to market -- if they do.

The one rule I think is really important when you hear about a scientific discovery is don't buy any stock then -- but you may want to start investigating the company,

What happened is we went through a long period that was very difficult for biotech companies to raise money. Once this window opened, a lot of people decided that they would go ahead.

I think it's probably almost 50-50 the FDA says, 'go ahead and give us the documentation for filing,' ... The problem is that historically the FDA's always gotten more difficult in these cases.

There are stocks that are so cheap and many of them are trading below their cash value.

My sense is that the FDA's response to all this publicity is to slow down and be even more careful. And that's absolutely the wrong thing to do.