You should know that Biotechs are traded primarily because of potential rather than financials and statistics. Biotechs generally rely on funding/etc. IND being filed means more than just an application to me. It shows initiative by the company, and reaffirms their stated intentions. Yes, the phases of clinical trials can be a lengthy process, however as they said, they will provide updates all along the way. Of course we have to take the possibility of failure into account with anything we do in life, but that is the risk we take. In reality, the potential lost (hypothetically) is extremely minimal to the potential gain. It is also not uncommon for discoveries that weren't found during non-human trials to be made in the process of human trials. Any success along the way will attract companies with more resources. You know what that means. So putting the time taken aside, we should at least have a glimpse of the direction we are headed. Who knows what could unfold in-between? Market mentality triumphs all.
