Just take your money and go snort a few lines. The rush will be more satisfying.Had another reader request to take a look at a few tickers in the Biotech sector. I'm really not sure how this became such an exciting place for speculators. There is just a huge failure rate here, with the winners just getting absorbed into the larger big pharma corporations. Instead of risking your investment in what is close to a surefire loss, why not just hold big pharma, like Eli Lilly (LLY), Novo Nordisk (NVO), or Pfizer (PFE)?Anyway, here are.. Aralez Pharmaceuticals, Inc. (ARLZ)Currently trading at $4.54, with negative trailing earnings of -$1.68 (ttm). I don't even need to pull the remaining financial data.This is another of what has been a surprisingly popular type of money-losing business, which is selling generic drugs in a fancy new delivery system. The company is taking things like Aspirin, and anti-migraine agents and putting them into autoinjectors or topical gels. We have been down this road, over and over again. Insurance companies will not pay for these over established well-known generics, and people will not pay the ridiculous cash prices that these products call for when they are expected to pay for them out of pocket.Immunomedics (IMMU)Trading at $3.57, negative EPS of -$0.63.Of the three companies I'm talking about here, this is probably the most feasible, they wanted to develop anti-immunity drugs, which are actually a sorely needed medical advance right now. However, there doesn't appear to be a workable plan in place. It looks like they've got a basic abstract of what they want to design, but lack the resources or ability to actually create it.The balance sheet is really bad. Declining year over year Tangible assets, flipping from tangible worth of $39 million in 2014 to a negative net worth of -$72 million, and the company continues to add long term debt at a rate of $2 million every quarter.It's a company without a plan, and somebody is going to end up sorry that they gave them a chance.Tokai Pharmaceuticals (TKAI)Selling at $1.07, negative EPS -$2.00 ttm.What do they make? It doesn't matter.The company has no revenues. Ever. They are apparently in the business of doing R&D towards a product that they aren't selling. The cash flow statement shows that the company has been making "investments", but there is clearly no tangible benefit. The only meaningful asset on their balance sheet is cash, and at their current burn rate, without raising new capital, they could be done inside of 2 quarters.All are bad, all are sells in my opinion.