They have dramatically changed the profile of the company. It was formerly a boring one-trick pony with one product and decent revenues/cash flows. NOW it is a "pharma" company with the prospects of developing important drugs which can possibly get FDA approvals in 2 years+ which could make this a lot more valuable. This is a good stock to put in your drawer (not your drawers) and check in periodically till 2018.
I am not sure they were really "optimists" as opposed to "flippers" who were trying to lend enough uncertainty (to an already misunderstood process) to get people to buy hundreds of thousands of shares for a penny or two higher than they paid for them.
Let's see...they are buying a pile are ARLZ shares at $6.25 and ARLZ is selling at $3.75. Looks to me like they are siphoning money out of QLTI into ARLZ. I would think some lawyers might be interested in this transaction, especially given Aryeh's current and past relationships with the ARLZ players and ARLZ.
ALL OF THE ABOVE IS MY OPINION