there have been multiple examples throughout stock market history of companies struggling to get off the ground for years and that have become major successes
Which NAS biotech pharma companies struggled for many years in the OTC market?
Again... the typical road map for a startup biotech is:
They develop their own drug/delivery system. They patent it. As a private company they obtain private equity funding for pre-clinical studies, and preferably the start of Phase I clinical trials. The next step is an IPO on the NAS. Raise funding for Phase 2 trials. Afterwards, they seek a Pharma partner to help fund, and conduct subsequent Phase 3 trials.
Instead, one has PMCB licensing a patent 13 yrs into the patent life. Where the patent holder Austrianova was never able to attract private capital funding of its own. Never able to attract a Pharma partner. Funding consists of dumping shares in the OTC market to retail. And despite the continuing share dilution, the cash on the books is decreasing.
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