Investing in the Improbable

Two such entities currently warrant consideration: Axsome Therapeutics (AXSM +2.10%) and Madrigal Pharmaceuticals (MDGL +0.93%). They aren’t, as yet, household names (unless your household consists entirely of biotech analysts, in which case, apologies for stating the obvious). But they possess characteristics that, viewed through a macro lens, suggest potential for substantial growth. (It’s important to remember that ‘potential’ is a word frequently used by optimists immediately before being proven wrong. But we’re focusing on the probabilities, however slender, for now.)






