The price is where it should be. The sad fact is beginning in May we could start to lose 70% or more of our revenue to generics. If we do we go from a cash rich to a cash burning machine in a hurry. In the meantime despite the pseudo scientists who post on this board we do not have one drug ready for Phase 3. Since only a third of drugs have a successful Phase 2 and only 25% go on to have a successful Phase 3. we have a long way to go to be a sure thing. Im not saying we will fail Im just saying its a risk i do own a lot of this stock.
However the majors who sometimes invest hundreds of millions fail Phase 3 trials therefore it is hubris to conisder us a lock for any drug
Just look at any biotech under 5 bucks and you will find throngs of supporters cheering early results which nine out of ten times go no where. There is no one on this board who has shown the pedigree to comment on the probabilty of success of these drugs only pretenders who regurgitate verbatim the articles they find on line. This is sophisticated gambling not investing.