| Drug development base rate | ~14% Phase I→approval (2006–2022) | Low base rate → small signal improvements matter |
| Current clinical success environment | 10.8% overall success (2023); Phase I 48%, Phase III 66% | Uncertainty persists late → biology signal remains relevant |
| VC portfolio reality | Majority of VC funds underperform public markets | Power-law outcomes → filtering matters more than prediction |
| BD / M&A execution | Frequent miss on timelines and revenue post-acquisition | Forecast error risk → biology adds downside checks |
| MBRS decisive-call subset | 60% accuracy on 97% of labeled approval/failure calls. | Core signal: authority-defined decisive biological separation |