Priceless advice for biotech execs from Charles Homcy, CEO of Portola Pharmaceuticals:
Homcy never takes his eye off the company’s bank balance.
“Having been in biotech 14 years, one always needs to do two things,” he says. “One is being cautious and looking at the things outside of our control, watching the money. And the other thing that is important is clinical data. Nothing is more important than good clinical data. What we’re focusing on right now is protecting the portfolio by keeping it well funded without diluting equity. If we keep control of those two issues,” he adds, then Portola will be able to explore a variety of options like partnering and a possible IPO at some point.
(See the full article at FierceBiotech – Emerging Drug Developer: Portola Pharmaceuticals)