What are some key indicators you look for before investing in biotech micro-mid cap companies?

I’m currently working on putting together a list of comprehensive key indicators to help me invest in biotech stocks. My focus will be on micro-mid cap companies with a phase 2 or phase 3 trial readouts within 12 months. Here is an example of key indicators I have so far, (my goal is to have a max of 15):

1. Dropout rates if info is available
2. Number of enrollees if not an orphan drug
3. Side effects from phase 1 or phase 2 trials
4. Standard of care comparison
5. Potential market cap if trial is successful
6. Risk of dilution
7. Link between job postings or cancellation with the current trial
8. Recent Presentations and forum of presentations
9. Ease of use

My goal is to have a score for each key indicator based on my assigned strength and if a company has a total score of 70% or more, I’ll consider investing. I’m happy to share my success rate here once I try it out. Thank you!

Of course, I’ll also key in fundamental analysis for mid-cap companies before investing in them