
Group 1 - The focus is on small and microcap biopharmaceutical companies where mispricing is most intense and institutional attention is minimal [1] - These companies are often in clinical stages and experience significant market movements due to retail ownership and analyst coverage from investment banks with vested interests [1] - The research team consists mainly of high-ranking Life Sciences students from top UK universities, aiming to improve the accuracy of clinical stage equity research [1] Group 2 - Excidium Research maintains a long position in Milestone Pharmaceuticals, indicating a potential bias in their analysis [2] - The report emphasizes the importance of conducting independent due diligence and considering multiple perspectives before making investment decisions [2] - Investing in biotechnology and pharmaceutical companies carries significant risks, including clinical trial failures and regulatory challenges [2]