explain the market cap

OK first off - I am relatively new to Opthea although I have watched them for many years. I was hoping one of the old hands could explain the reasons for the high market cap to me. My understanding - and I could be completely wrong here - is that OPT-302 has now been in two phase II trials in combination with other agents. In both trials the addition of OPT-302 did not markedly (and in the case of the recent trial not significantly) improve the outcome for patients. Why would consumers pay for an additional agent with a marginal if any benefit, and more importantly why would a third party pharmaceutical company pay good money for such an asset. I can't see too much in the pipeline behind OPT-302 so I'm wondering if the emperor has new clothes so to speak. In other words what is the basis for the very significant market capitalization. I honestly can't see why we should fund a phase III in any of these indications and any secondary endpoint yet to be disclosed are unlikely to change the value proposition.
SJ