I think there's a big difference between a company with management that is mistrusted treating an extremely hard-to-treat disease and is from a different country and one that is a scam. Perhaps if this was a U.S. company with a smoother IPO, VBLT would be at a similar market cap to ZIOP or far ahead of TOCA which JUST finished their trial. Their was considerable skepticism about their Phase 2 trial design for rGBM and the small sample for ovarian cancer, so I think that's why people are looking at the risk/reward of investing for Phase 3 results and the $200MM market cap is indicative of that. If the market thought this was a scam I wouldn't think VBLT would have the institutional ownership it has.
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