IMO, the pharma business in general is a speculation or some would call it a "gamble".. The odds of successfully progressing through development, preclinicals and then Phase 1,2,3 clinicals are low. However, with each successful passing in the various stages of development the value increases,sometimes dramatically. At what point are the bigger pharmas engaged and negotiating development deals, exclusive rights, buyouts? I think the answer is at each and every stage...
Short answer easily found by looking at their filings is that RSPI is the opposite of "sufficiently funded". They need resources to move forward.
I think if their epilepsy/pain drug candidate completes the robust preclinicals of the NIH and is positioned for grant money into human trials, then there is something of very significant value there that big pharma will want in on now before moving into human clinicals. Especially considering the high profile nature of the opioids epidemic.
The OSA program seems to have less risk on the safety aspect of re-purposing dronabinol, moreso on will the new formulations successfully extend the duration of effect while maintaining minimal side effects. Assumption is they are in preclincals there as well with a quicker passage through human trials, less cost to develop. Plus a current estimated valuation around 20 million which nowhere near shows up in the market cap here at the moment.
Amazing to me that some legit IP and legit progress in the pharma world can trade less than a million in valuation while many OTC gambles are sitting at 10x that value with much less prospects or business potential. I think what the gamblers here are seeing is that there is a legit possibility for major BP dealings here that can shoot valuations into the 100's millions similar to past storied pharma stocks. And the potential here would likely have much more sticking power, IMO
GLTA.
