You have been analysing history of biotechs on the ASX. The drug development landscape is much more than the ASX.
The founders stumbled on an unusual drug. An effective and safe drug that was forgotten. @RaceOncology then realised the strategy was wrong and set about changing it to more effectively realise the potential of the drug.
A large Phase III trial in Breast Cancer in the 1980s demonstrated that Bisantrene is as effective as Doxorubicin ( the key drug in Breast Cancer chemo ) but much safer for the heart. Was unfortunately a moot point because Lederle’s owner didn’t have the money to progress the drug.
STRONG SELL/ 50% downside potential, page-24
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