Good questions and are valid. You have been raising them since you joined.
But here is the thing - people on this board are not newbees - they have invested in this stock for more than a year and most are in black - many of them have decent appreciation.
Also mist of the group here know the risk of investing in bio-tech and have decent level of appetite for risk (one of my bio-tech stock dropped from 26 to 8 in 3 days)
Howver CTIX provides an opportunity that IMO that allows multi-bagger potential against maybe 60-70% loss from current price if all results are adverse as you mention.
This is one of the reasons I am so much invested in this stock - many other have same view as well