According to Gottschalk (and Kelley), the FDA may allow certain process changes to be managed under comparability protocols without clinical trials when:单项选择题

A

The process change improves yield, and the impurity profile is unchanged

B

The process change occurs during Phase I development and is supported by in vitro assays

C

The process change has no impact on product safety, potency, or efficacy, and the product is well characterized

D

The process change reduces COGs, and the product is well characterized

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For stock A, we have 𝛽 𝑖 = 0.70. Suppose the expected market risk premium next year is 9% and the risk-free rate is 3%. What is the expected return of this stock based on the CAPM? (Please answer in % and round to 2 decimal places. If the answer is 8.057%, then in the box, write 8.06)

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 Suppose that the CAPM holds and that Stock A, the market portfolio, and the risk-free asset have the following characteristics. Asset Expected return Standard deviation Stock A 15% 40% Market portfolio 11% 25% Risk-free asset 3% 0% What is the β of Stock A? (Please answer as a number and round to 2 decimal places. If the answer is 0.768, then in the box, write 0.77)

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