Congratulations Tryn2! There is certainly some large potential risk in any microcap biotech, and even ones that are no longer microcaps. This is a high risk sector. If it pays off, it will pay off in a big way, in my humble opinion. But there is always going to be a risk of total loss. It's how strongly you think it won't come to that. Personally, I think the assets alone are worth much more than the current market cap, but that is no absolute protection either.
One can assume a great deal in ANY investment and either do well or lose it all.
Again, good luck and I'm in the same boat, with a substantial investment - and I'm happily waiting for news.