Quick Diligence: I am hesitant about Celsion (CLSN) because of several reasons.
First, ThermoDox, while it is a targeted therapy, still depends on chemotherapy that is released into the blood stream. Recent tech in oncology are moving away from toxic compounds like chemo and towards precision therapy that have more limited side effects.
Second, ThermoDox's current cash position is $5M. They do not have the capital to commercialize and will likely have to dilute shares to raise cash. If the trial reads out positive, I'd wait for the dilution to get in. That way you have a slightly de-risked entrance to the stock at a bargain at that price.
Finally, even if CLSN shows positive data, competition in HCC is fierce, so they really need to rely on an acquisition for a successful exit in my opinion. I don't think there is any pharma that would be interested in this tech, which is slightly outdated. I hope this helps! If you invest in it - take a small position that you won't mind losing. This is certainly going to be more of a gamble and you might get some returns based on sentiment. Long-term outlook isn't great though.