I've invested in many biotechs over the years. Mutual funds, too. I've made a lot of money on a few biotechs and lost some on others but the winners more than paid for the losers. I've done that by being very disciplined and patient before getting in. Over the years, I've developed a list of characteristics that mitigate the risk and increase the chances for success. One of those is credible management with a track record of success. Another is pharma partners who pay the freight and provide expertise. And another is verifiable, reproducible data. There are other criteria as well. If I can check all the boxes and the price looks good, I get in. If I miss the boat, which sometimes happens, I don't care. There are many fish in the sea. At this point, AVXL does not meet any of my criteria, though I'm watching the stock because I'm interested in the CNS space and in the SR1 approach. Very high risk based on the industry's track record of failure but a ton of upside potential. I don't care how "cheap" AVXL or any other stock is that I'm looking at. What I'm looking for before I pull the trigger on AVXL is real progress in the clinic and a big-pharma partner, not hope or hype. My goal for investing is to make money. If I want to do good, I'll make a donation to a worthy cause.