I told my group that "Understanding the risks of buying a company with only Phase 1 data that has not been fully evaluated by the scientific and medical communities, we could start new positions between $9 and $11."
Their data may not impress scientists right now, but I'm betting they will still get funding to proceed with the next phases. And the potential is intriguing for at least two reasons besides the possibility of a COVID pill.
First, if successful, they will be targeting a unique opportunity as the only "mucosal" vaccine after Merck recently abandoned their attempts. According to some doctors, novel coronavirus is a pathogen of a mucosal organ, different than those viruses that attack systemic organs. Current vaccines are systemic, and can only reduce disease severity.
Secondly, if successful, a pill for COVID could be room-temperature stable and not require extensive cold-chain technologies.
Why own more than one vaccine stock? Because the demand outstrips supply right now, plus countries want differentiated platforms and technology.