3 drugs in 4 trials, market cap 157 million. 118 million shares outstanding: seems in the comfort zone to me.
Comparison: JAZZ has 61.34 million shares outstanding, trading at 127, so half as many shares, almost 100x the price (until today it was 100x the price)
Comparison: NWBO, 78.1 million shares, market cap 370.5 million, trading around 4.75, one drug in a trial for one application.

Think about how absurd this is. Each CTIX drug trial valued at approximately 40 million dollars, those trials including:

a possible cure for some forms of cancer;

a possible entirely new class of antibiotics to treat devastating infections;

a possible treatment for a previously untreatable side effect of cancer therapy (oral mucositis);

a possible cure for psoriasis (and who knows, possibly other uses for the drug in this formulation, like other autoimmune diseases).

Any ONE of those is worth a market cap of more than 157 million. You get 4 for less than the price of one.