The book is OK, but its authors could've done better. They could have presented the life sciences valuation methods in more understandable language.
If cash flow discounting is a new concept to you, consider postponing this read for a later time. Instead, delve into "Expectations Investing" by Mauboussin as a starting point.
This book may help create a biotech company valuation model to present to others. Its real options example is solid. It can serve as a good template.
Yet, when you wager your nest egg, you need a more robust approach. Relying solely on the methodologies outlined here for investment decisions is not a good idea. Predicting which drug candidates regulators will approve demands extensive expertise. You can't gain that expertise by reading just one small book.