The biotech company that's able to deliver the next game-changing treatment might become tomorrow's winner -- and offer your portfolio a giant boost.

Problem is, it's not always easy to identify that company. And even if you do pick a company ready to flourish, it could hit a roadblock, causing the shares to sink. An example: surged more than 2,000% in 2020 on optimism about its coronavirus vaccine program, then plummeted as it fell behind in the vaccine race.

But here's the good news: You don't have to pick just one winner to succeed in biotech investing. There are many ways to put your money into this innovative industry and come out ahead in the long run. Let's take a closer look at why you really shouldn't focus on only one stock -- and find out what to do instead.

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Source Fool.com