There are already good drugs available. The thing that kills follicles is related to hormones – a specific type of testosterone – and given treatments like finasteride are well under a dollar a day. Very effective and very very low rate for side effects, which are almost all mild.
A pharma company would hear a pitch for developing something expensive and risky (like stem cell or gene therapy) and say ‘why there’s no market’. Further those sound like a short term treatment, not a lifetime of pills, further eroding the business case.
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