Morphing

I am always looking for an edge when it comes to investing as I am sure we all are?
One thing I have noticed over time and I have plenty of that, is when a company morphs it can lead to a much better company, PNV is one of the ones I first invested in many years ago as Metabolic Pharmaceuticals, for it's so called fat pill which failed at phase 3 , I won't linger on that insofar as to say it was due to a poor decision IMHO to go Oral, this is very similar as to what happened to NRT.
But then we became Calzada as a back door type listing because MBP which still had lots of money in the bag and then we eventually became Polynovo, things changed for the better, this is why I am writing this, this same has happened to me a number of times now and it would seem that due to past failures the company learns from them, it would seem to me that they become better companies because of past failures am I right in saying that?
But something else I learn't from this experience is that when I first invested in MBP or NRT or SLX it was at a much higher price, but due to the failures or pre concieved failures and then the refocus, I was able to buy a great deal more shares at a much lower price and also in a much better technology to boot?

I have other shares that have done pretty much the same and they are also looking good.

Eden energy is another one in this morphing scenario thing and so is Novogen and I guess you could add to that SLX, because I don't believe what they first started out as is now their final goal.

I just find this rather interesting and maybe it is worth researching for future investments?
I hope this wouldn't be called off topic? because as far as I am concerned PNV fits the bill perfectly and I believe there are other companies out there that are in exactly the same boat and worth looking at?

This is just an observation from an old campaigner and something I would like to pass on to the younger generation.