I'll tell you the real story on CYDY. Because, we've been there, done that.
You get a guy entitled to the title Dr.
No matter that he's not an M.D. or that his degree isn't even in biotechnology. No one within the top management other than a nominal board member is an actual M.D.
You find a drug that hasn't yet been proven to do much of anything, and license it, and tout it as a cure all for more than one disease, sometimes even for a disease that hasn't even been documenting as existing yet. You go public. By the time everyone figures out that your drug doesn't work all of the owners have pocketed so much via salaries and inside stock sales that it doesn't matter. And then, the company quietly fades away or is acquired by some other company trying to prove itself (to the public) in much the same way.
Of course I'm speaking hypothetically. Not from actual experience. Or am I?