By Mike Ward
Editor, Europe

OXFORD - One of the hard surprises for biotech companies is the difficulty of the transition to profitability, as investors punish companies for slow sales ramps and for missing EPS numbers. PowderJect Pharmaceuticals plc (LSE:PJP) has unveiled two programs and a financing plan that Paul Drayson, the company's chairman and CEO, believes will enable him to manage an orderly transition to profitability.