I remember a conference call a couple years ago where a caller indicated a friend or family member took the drug and was doing great (sorry don't recall the company but I believe it was a phase 1 trial). I give the company credit they didn't cut him off but immediately indicated they were not a party to the call and the information should not be taken as something the company agrees with.
I believe non-institutional investors should get the same opportunities as larger holders and analysts but unfortunately some are making it justifiable for companies to screen.