General discussion, page-1621

I think to me the biggest glaring mispricing issue is not to do with the probability of successful results.
A successful Phase 2B would derisk the drug immensely, and of course adds value to the company. As bullish as I am on the OSA Trial, it is still not guaranteed.

The most headscratching mispricing issue here is rather where we are heading into the trial and its results.
Other biotechs head into these trials with successful Phase preclinical studies and Phase 1B/2As and are capped on hype at multiples higher than what we are now.

Put it this way, DXB holders sitting pretty at a 75c SP and 150M MC were hoping that successful Phase 2B results for their rare kidney disease drug would rocket them to 250M MC and beyond. BOT holders in the 25-29c range at 200-250M MC were hoping that their Phase 2B Acne results would rocket them to 40-50c.

Yet here we are with our own Phase 2B about to commence, hoping that.... what? 50M MC?
I think it has got to be the fact that we never did Phase 1B/2A work on our OSA trial, if we did and progressed to Phase 2B we would likely be sitting at at least double or triple where we are now looking to head even higher off the back of successful Phase 2B results.

The market either hasnt realized that we skipped straight to Phase 2B because of the existing scientific literature including pre-existing studies that allowed the company to go straight to the big test or rather doesn't seem to care for it.

Hence my comment in the previous post about asking for anyone to show me a biotech that is running a Phase 2B trial concurrently with two preclinical studies for two different drugs, making three in total running at the same time with $12.5M cash and 50M MC. Such a company without any actual successful Phase 2B result should already be trading at multiples of its current valuation. A successful Phase 2B should add even further market cap on on top of that.

So tldr, IHL should re-rate to at least double if not higher than where it is right now before any actual results come through.
And even from those prices (the early teens) there is substantial short-term upside opportunity when the results for ARDS and OSA come through.
I don't consider this ramping, as I am simply comparing to peers. This valuation is just absurd. You wont see me ramping if we get in the teens because to go any further we will have to show successful trial results. IMO.