Alz is long shot (same as AXON buying failed GSK drug) However there are few differences - Pfizer saw some potential so they actually conducted trial for 400 patients - it was not full failure as fda reconsidered it
On diabetes drugs - they presented the results only in Dec and will present in next scientific conf in July.
I agree that they are not in a bargaining position but if they get partner to start trials there is very good upside (SP has already come down from 12 to 6)
However I lost a lot of money in CTIX since 2013 and still no product has reached P3 - so I always compare my new decision with CTIX screw up done by mgmt promises. As compared to that we have 5 products in P1-2, P2-2 and P3-1 and clear mgmt view.
So agree, it is high risk stock with higher chance of failure but not one trick pony.