Mondy, you've made some fair observations but you lost me upon invoking DW8 as comparison.
Absolute stonk that one and not at all relevant unless you parade social media stonk channels (I suppose you do).
As far as high SOI and lack of profitabilty is concerned, two points that your general statements fail to properly recognise.
1. Highly capital intensive R&D duration risks apply in biotech as you know - trials are expensive, scientific development takes time hence equity financing (do you propose debt financing...?)
2. Because of above, profitability takes time doesnt it.
Let's not try fit square pegs in circular holes here
Will IMU be removed from the ASX200 in June?, page-82
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