You were all one letter off MBI not MKI. The smart thing to do would have been to license their scanning technology to a big player who takes almost all the revenue but who also takes all the costs. An 8% royalty is better than 100% of nothing which is what MKI holders are stuck with. And MBI's 8% royalty is at a 100% gross margin because their partner takes on all the costs associated with marketing and development.
A good lesson to learn from all this is NEVER to buy into a Canadian biotech company that uses debt to try to go into their business on their own. It almost NEVER works. If you must buy a company that tries to go at it alone make sure they have a lot of cash and no near term debt. At least two years worth at their current burn rate, maybe more. EKG is a huge rarity and they are not out of the woods yet. ONC is one of the more succesful biotechs in terms of getting decent terms for financing and even their stock price returns have not been great over the years. But both look excellent compared to the many, many Canadian biotech stocks in the trash heap because they went bankrupt and some private debt firm took over to make a ton of cash on their technologies. Of which MKI now belongs to that group. Even MBI stock price looks poor over the 5 year horizon but they learned their lesson before it was too late and got a partner so they are turning it around and the stock price recently shows it.