I think you're correct mal. Where the majority of tiny biotechs are trialling one drug, developing another one or two for trials NEU has FOUR Phase 2 trials on the front burner. This greatly reduces risk, ie. four kicks at the can -- and with ~22MM in cash to boot (with).
On a molecular level I know nothing. Based on this extensive ignorance I think there would be little linkage from one trial to another because of the tiniest differences in molecular structure would prevent such linkages.
So, back to the primary investment thesis: a) four Phase 2 trials; b) ~$22MM, and; c) fast track, orphan drug and breakthrough FDA designations granted or in the works.
Risk, here is mitigated, but there; reward is lucrative and looms larger than risk.
OV
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