AVXL is only undervalued right now if the company is able to successfully execute its clinical trials for 2-73 and is able to move to commercialization. That's not spin. I believe this is a binary situation - a platform play - the SR1 receptor will solve all these indications or none of them.
That's why it's so risky and why the stock is only $18 or so and hasn't been bid up to $100 plus. Better to lose $18 than $100. That's also why you don't mortgage your house and put all your savings into AVXL because there still is a very real chance of failure.
If the drug doesn't work in the clinical trial readouts the company is overvalued. I really don't think that's a complex idea.
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