you know what really builds value :
getting something approved - just 1 thing. 100's of indications means nothing compared to 1 approval and 100's of possible other markets.
So when you go spend $M's, make sure you get it right else you are wasting time and $ and investors confidence. Thats what a smart management and board would do. If you need to do a dosing trial , you do it. You have a plan that takes all the odds out so you can show progress and success at each step. That also helps stop shorts - as it strengthens the thesis (that's how shorts work - against a thesis - the less evidence, the weaker it is, the easier to create fear).
You don't throw away $M's and see if it sticks. Because you will waste time and money. In a pre revenue company both matter. Especially if you want to raise value, find cheaper investment and not dilute.
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