Welcome to clinical stage biotech's, all (20 bags+) or nothing, that's why we are here.
Many other sectors you'll sleep better in with a more diversified downside, but retail/major shareholders here typically want that uncapped upside that with the firm diversifying risk away cuts into the return side of the equation which just isn't desirable for allocations in these risky assets.
Distribution for a tiny indication with a tiny level of specialists in the targeted sales pipeline is just silly imo.
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