Biotech Values

[palindromy]

Anybody have an opinion on the risk/reward of BIOD now that valuation is about 50m?
It does seem like the drug does work. If I were mgmt, I would sell or partner right now to fund the new trials and get support on better execution. The upside seems very large while downside has more or less been realized. Of course, you do have to hold for 1-2 years!