Just because shorts have been successful and it’s a tiny company, so the current price really doesn’t tell the whole story. If people thought that the price of bios before the market understood the story and all could invest told the full story, then there’d be no profit in investing in them. The future would be known by all before it happened. Then there would be no profit to have ever invested in anything.
The intelligent market theory is dead. Also, the dollar amount per share is not the value, the value is the market cap. And the profit here for 5 years is quite good overall. But, if you haven’t noticed, the markets are discounting speculative trades for current income and dividends.
That means that with a successful drug here, there is incredible value to be gained by buying early still.