Not completely worthless though. Mostly a Phase I is geared toward assessing general safety and dosage ranges. If they figure that out then it's done its job. An open label study can still get the data that they need here.
If they get some data from the 1b group indicating that viral load decreases, or that symptoms show some improvement, that sets up a potential Phase II and gives self-dealing Diwan something to try and sell in a partnership with some other, bigger pharma fish.
One bonus to a potential COVID treatment is that 'if' it works, 'then' its going to work quickly or not at all. It won't take forever to actually 'do' the Phase I, and a Phase II should be similarly quick to see results, or the lack of results.
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