Since 2001, bioterrorism has become a well-recognized threat. The list of possible agents is long, and includes Bacillus anthracis (Anthrax), Clostridium botulinum (Botulism), Francisella tularensis (Tularemia), Variola Major (Smallpox), Yersinia Pestis (Plague), etc. Do companies that work on these threats represent an investment opportunity? I don’t plan to write on all these diseases – just two of the more visible ones. This article will concentrate on companies working on Smallpox and the follow up article will focus on Anthrax. ....