I realize what you're saying. My point is that the regulators will permit companies to spend their money in practically any manner they wish as long as they're complying with, first, do no harm. I seriously doubt that CVM really believed that their drug would succeed in some of the trials they started, but I doubt if they were certain it would fail. My point is that their business plan is launching the very same drug against new threats each time it fails in an earlier threat. They do it with a great deal of fanfare, they're boastful in their belief that they'll be successful, and of course they issue a ton of new stock to fund their operation. The regulators are only too happy to let them spend their money, and investors should beware of how many times they've done the same thing before, but they always seem to attract a new crop of investors who're drinking their cool-aid.
I'm rather certain that if you took all the press releases they've issued, you'd find precisely the same language in many of them with the exception of a few words, namely the disease they're targeting in the newly proposed trials. They've master the use of the find and replace function in word processor programs. I hate to be so skeptical of CVM, but as an investor in it decades ago, I've seen the same pattern replace itself many times. I don't know that their cure may not some day find its disease, but each time the trial results come in, while they claim to be making progress, it's never sufficient to gain approval.
I really can't say if there are many others like CVM, but the credible companies I believe at least work on making improvements in products which failed in trials, if not developing totally new products. CVM just keeps applying the same technology, and language, against new target, their drug today is exactly what it was decades ago when their target was AIDS.
There is no doubt in my mind that a company can learn much from a failed trial, and with a changed protocol may be successful in a redesigned trial. That's not been the case with CVM, as I remember it, they generally change targets for the new trial. I know some here believe in them, for your sake I hope this time their drug found its disease, I just wouldn't bet on it myself.
Gary
Bullish