you are wrong. BMSN already has clinicals in place all they need is FDA approval for the application they submitted. Even then aplastic anemia is eligible for orphan drug status or even breakthrough status which recent companies have been able to get approval in as little as 4-6 months after application acceptance.
You are using the classic generalization argument which simply can not be applied to biopharm stocks and penny stocks. Do the research on BMSN you will find this is a very different case and disease they are working on.
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