> I would have thought they were pretty well positioned to find new targets for currently untreatable diseases

To find new targets yes but to develop a drug to market (and revenue/profit) takes 10-15 years. Even a drug to a state that gets approved for human testing seems beyond what they could do themselves without so much funding it would wipe out the existing shareholders. Selling to/Partnering with other drug companies with targets they've discovered/IP from DNA etc would seem more realistic.