You need to learn to only invest in what you are comfortable,...

You need to learn to only invest in what you are comfortable, make the decision and then wait for new information and make a new decision then. You cannot keep rethinking without new information.

Look at the cash on hand (and book value) and the cash burn per month/quarter by TRP. Is that something that seems big to you?

IMU went to try non core things during COVID like wether it was good for long term COVID. It also seems like the management are very busy with marketing the company and doing interviews and such.

TRP is trying one thing and sticking with it. Not much cash burn. Already on stage 3. Already trying to do sells/revenue (even though they don't make a dent).

Risk is stage 3 comes inconclusive or worse. It happened before in a company that did creams for scars as well if I recall correctly. That company delisted (bankrupt?? Maybe someone remembers).

It's a wait and see company. You cannot lose more than 100%

I was quite impressed with their images of improvement of venous leg ulcers after years of non improvement with standard of care.

Will stage 3 be successful?
Will they manage to commercialize or get into a JV?
Will management funnel profits to shareholders or to mismanage them?