1) Kovner isn't just any insider. He is a self made billionaire. He didn't get that way by throwing away money. He may of course had a few mistakes along the way, but I would venture to guess that by this point he wouldn't be doubling up on what he thought was anything but a sure thing. That is effectively what he did when he bought more at the 5 level this summer. If he wasn't sure, he wouldn't have bought and would have waited for a bounce so that he could dump his shares purchased above 8 (20m dollars worth in December of last year). He wouldn't double down.
2) This company owns everything. 100%. Very rare for a biotech at this stage. You should have a think about the implications of this going forward. The value that flows to shareholder is potentially enormous. Another reason why Kovner would be bullish on this stock.