Ann: Half Yearly Report and Accounts, page-16

It's irrelevant whether it works or not. You can spend close to a billion dollars developing a drug but what's the point if there is already a cure that will be available for a few hundred dollars by the time you commercialise it. I'm glad they are not pursuing this further as they need the money to progress HVB and AMD, both indications have no cure and this is where the money needs to go.

Are there any other biotechs we know of whose market cap is half their cash backing?