Earlier it was stated to be one antibody in a cocktail. Finding and then cultivating a good monoclonal antibody is a huge success, but finding the rest of them for a cocktail is a tall hill to climb. There will be some value then.
IF and when they have a cocktail, then Phase I will see if there are serious side-effects. People could have an immuno-response against the mAb. If that is at least safe, then there will be a risk/reward play on Phase II.
Meanwhile the CEO is saying it's an alternative to vaccines but anti-vax is fundamentally about not injecting any of these things so he is hyping to a base without understanding them.
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