I tend to agree with ag11's valuation thesis.
4DS has quite broad patent protection in the area and very credible partners in Western Digital. They are also partnering with imec, which is more of a testing consortium, to assess the performance of the chips. Imec is the go to place in the semiconductor industry to test processes/chips in a high volume manufacturing environment in the semiconductor industry, but independent of a particular manufacturer, which definitely adds to this narrative.
These partners don't guarentee success, but certainly shows that 4DS is taking the most appropriate steps to be succesful and so far the results are positive.
Disclosure: I recently purchased a small holding