Partly correct, But the advantage is zero upfront cost for the Option to license, giving them control so they can raise funds for Phase I/II Human trials from non-profit trusts that fund orphan drug. Cytr did that back in 2008-2009 and showed a profit for 3-4 quarters (from the non=profit research grants that funded the Phase I/III orphan drug trials, allowing then to raise lots of cash to buy a cutting edge biotech, they later sold.... Lost track of then 1-2 years ago.
The "nobody else wanted" is why it was free upfront, but CTYX wanted it, meaning they potential in it. Note that Nvs, Novartis, now worth 300 Billion dollars was IIRC, started by to going after orphan drugs???
The problem with Orphan drugs is they are not in and of themselves a $100 Billion dollar businesses like an Alzheimers cure might be. Or a corona-virus cure.
But a small start up can get its get foot in the door, and get the ball rolling. Right now it is a great FOMO-News-Penny-Biostock with lots of eyes making it very tradable.
I got into Mhan in 2009, it was dead in 2010, I loaded the boat at .001. I was the only net buying the dumped shares, and not much later it was taken over, uplisted to Nasdaq as a fully funded, drug licensed firm and 12 months later Cramer on Mad Money was pushing the stock at $18/share. I Held through the R/S to $4 that got then to Nasdaq. I still have shares, just to watch it, trading at over $26/share , a 650% gain real gain, the stock is Tgtx, which I mention as historical proof that it can happen, for those that want to map out what can happen.
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