*If* it affects DHT levels, then only in the scalp, because the a-isomer of estradiol has a very low systemic absorption/effect. But as I said before, it is unproven to do so "in vivo" and the very limited number of studies and empirical experience we have with the agent doesn't seem to show any considerable effect on male pattern baldness when used on actual balding scalps. That's why I said it's probably not better than minoxidil alone.
Again: if you can afford it, use it, just to take the chance that it *might* work to some degree. Any side effects except for local skin irritatiion due to the alcohol/solvent content of the solution are not to be expected. So, if it doesn't help, at least it probably won't hurt.
regards
Kaus Klinski
since there were no studies, how can you be sure about this part "Any side effects except for local skin irritatiion due to the alcohol/solvent content of the solution are not to be expected"?
isnt that abit of a gamble?