Lucas and Luna step into the clean, cool world of biotechnology startups, where drug discovery meets the harsh realities of FDA approvals and venture capital. Each episode takes a single biotech company—from Moderna to a tiny CRISPR spinout—and dissects its science, its business model, and the regulatory path that determines its fate. Lucas brings the numbers: clinical trial phases, patent cliffs, burn rates. Luna presses on the human stories: the researchers betting careers on a single molecule, the patients waiting for therapies that might never come. They don't celebrate hype; they ask whether the science holds up, whether the market exists, and whether the FDA will say yes. Listeners will walk away able to read a biotech 10-K, understand a Phase II readout, and spot the difference between a genuine breakthrough and a stock promotion. How do you value a company with no revenue and a 90% chance of failure?

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