Same here.
I think RGS has commercial upside (licensing, partnering in Japan first and then US & Europe) but I also believe their IP position in the whole matrix of regenerative solutions is very strong.
Stem Cells secretions are so much safer than stem cells. Their therapeutical promise may be lower than "full" regeneration or even gene editing (crispr) but secretions have a broader and simpler range of applications, such as "acne cream" with Sygenus. Pathways to health products will be quicker than other stem cell treatments.
So far, RGS SP has had ups and downs and has relied heavily on patenting and pre-commercial partnerships. As soon as commercial partnerships are announced for Progenza, the access to market for Sygenus will be faster. That's where the BIG upside lies. From Progenza to Sygenus.
Sygenus technology has already shown a more potent and longer lasting effect on pain than morphine!!
I'm patient