Looking for someone to take me down on this and show me risks I...

Looking for someone to take me down on this and show me risks I may not appreciate. I’m a holder but at current prices I’m looking at a bigger play.

Positives:

1. A known safety profile
2. An application without directed, tolerable therapy in IIH
3. It seems to work (phase 2 data), off label access testiments
4. Only drug I’m aware of to directly reduce CSF production - ie. different mechanism to mannitol, diamox, DECRA
5. Likely an adjuvant therapy for CVA, mass lesions, ICH. Maybe others I’m not aware of. Addressable market for all is significant.
6. The stock market I believe is not pricing the risk reward appropriately sub $1.
7. It’s funded for the future studies, toxicokinetics I think. Lower likelihood of further capital raises.

Risks:

1. Changing of formula to adjust to slow release. This poses risk however, it’s been done over and over for direct insulin formulations so possibly not as bigger deal as I see it?
2. Delays in studies and further clarification / studies needed by FDA/EMA.
3. Phase III not extrapolating the phase 2 data or adverse events - lower likely hood of ADRs given how long this has been used for.
4. Competitors I’m not aware of being developed? I’ve some insights into the medicine world and the gap in market for Exenatide for this use, but I may not appreciate other products in development.

It’s my take that the risk reward is skewed favourably. Biotech is a binary outcome, bang or bust. I’ve tried to see where this will fall over but I see it as a very good play albeit the share price will oscillate at low levels for another 12 months I think.

All my opinion only.

Love to hear insights on the above....