If you assume professional investors don't understand pharma (and they are not trained experts in pharma processes) then they will not know the probabilities of outcomes that will drive PXS's valuation (in the same manner they would have expert resources advisors who would know how to value explorers).
This would tend to mean they would err on the side of caution and not be buyers until the probabilities become more certain- otherwise they could risk blowing substantial mandates.
PXS Price at posting:
$1.05 Sentiment: ST Buy Disclosure: Held
