David Southwell

to the extent that you're relatively humble and transparent, it helps.

Well, I think to some extent, I just have a very low tolerance for boredom.

And the one thing about biotech is you're never bored.

You come into a company with most businesses

you're trying to control the risks and your main risk is a competitor.

And you come in and you figure out what your advantage is against the competitor and you maintain that advantage.

And then you just kind of keep going and build the company.

In biotech,

you deal with uncontrollable risks, whether you're a scientist or a business person.

You know, preclinical data, unfortunately, more often than not, do not translate into good clinical data.

And you can get tripped up by the business side of things.

Often, we're a very science-oriented industry, and sometimes people get too deep into the science and that they realize that they've developed

the perfect solution to a very small problem or the perfect solution to a problem that someone else has solved a few years ago and you just didn't notice it.

So I think that the situational awareness component of this industry is something that really needs to be kept in mind.

You know, you can have a really good scientific idea, but you've just got to keep an eye on the market.

And cell therapy is an example.

is, I mean, it's really helped an awful lot of patients, but ultimately the question is, will the payers pay for it?

And will the payers pay for it?

And how many, once you start slicing and dicing your patients for people that have the particular antigen that you're going after or the particular HLA, how big is the market really?

And then how many of those patients are covered by insurers that will pay for it?