I think the MDGL price is more a reflection of the companies that hold stakes in them and their motivation to maintain price points. Most investors have never heard of a SARM, it’s easy to confuse it with anabolics. Anabolics stocks have been hammered for a long time. I don’t think we share their levels of risk and I feel we may become drug of choice and eventually eat into their market, but it’s guilt by association, until others realize there is an alternative course available (us). Phase 2 data is easier to remain unknown. There are far fewer drugs making it to phase 3, and positive phase 3 data is generally a national story, when it represents a new class of molecule especially. Most nash investors put their money into the mega cap stocks, because there is no current consensus to what the path forward will be in that realm... so it’s a ‘safer’ bet in their mind to go with some massive company that has their eggs in many baskets. As more nash plays fizzle out, and our side effect profile is hopefully further solidified, this will become a no brainer to everyone. It’s also easy for people with no medical knowledge to fail to grasp that a thyroid hormone isn’t a thyroid targeted drug, or that a selective androgen receptor activator is being used in bone fractures, and to lose sight of the far reaching potential to expand that drug into a lot of other realms (especially with the known dangers of anabolics and the lack of safer alternatives). Dudes will always want steroids, people will claw for this alternative, middle age guys with healthy hips... if you get my drift. It’s just too soon for most people. Good for us (who are able to get in early and solidify positions), also bad for us (not much attention to our amazing progress in all realms of our pipeline). Time is our friend, as previously stated. When someone takes a bigger stake in us, or we have a huge upside day and make it on the movers boards, people will start to wonder what all this stuff is, and what it does, and it will snowball, imho. I also suspect someone is accumulating, and that march and April may treat us very very well, when people start wanting to gamble on upcoming results again, and the attention it shall bring. Most people and institutions hate betting on phase 2 results. The valuation cap with MDGL will become undeniably absurd when we have our upcoming data in hand.
Happy holidays buddy
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