If you don't know the answer to that honestly you don't...

If you don't know the answer to that honestly you don't understand how they invest.

Look at any successful biopharma play and see when the professional funds start to take an interest in them.

They have strict criteria and its still too early for most. Once they see partnership deals, FDA pathway etc they may indeed start to dabble.

For example, look up TLX as a case study and when the mid tier speciality funds started to take and stake.

Having said that some will not look at us due to it being a repurpose drug given the perceived uncertainty over moat BUT also look at inside industry investors also on register. They tend to get in early and sit tight.

One final thought.....the crowd rarely gets it right hence why it always underperforms