A good CEO in biotech, like all CEOs, has to have the ability to build cash reserves to enable the company to grow and provide a return to investors. The problem for most biotechs, however, is that they do not even generate revenues, never mind generate profits. A good biotech CEO then, as a primary skill, has to have the ability to raise significant amounts of cash through successive rounds of equity financing, and, if available, debit financing. His or her second skill is then to transform that investment through value creation, that is, through good research and development of products and technologies.