I agree that the price /fundamentals look attractive* --possibly...

I agree that the price /fundamentals look attractive* --possibly more so than when the price was $1.30+ .

TIME to achieve a result is, as you agree a risk factor, which includes an irrational/rational general long term market turndown affecting everything.. ---

It's not unheard for a company to stuff up a phase 3, even when the pundits (including the "insiders") were confident that they knew what they were doing and the product was definitely a sure thing.

Hot "unbeatable" favorites do get beaten, sometimes well before the post and arbitrators /judges and even the FDA have been known to hand down bizarre decisions without necessarily being thought corrupt or lunatic.

Our viewpoints are similar but differ in how we view the risk /gamble factor .
I do not believe that there is a truly safe stock market investment --- even dividend paying blue chips can loose most of their value (remember Rio and WBC at one stage were almost heading towards bankruptcy) ...the market of course is also a place where some can make serious money in low cap and spec stocks -- maybe IXC?.

* I have taken the "gamble" with a small position and might review and average down if the price weakens.