instead of binding to the AR like pyriltuamide or RU or degrading the AR(GT etc.), it binds the mRNA that encodes for the AR and silences that. so the androgen receptor rna cannot be translated in the receptor in the cytoplasm. its basically post transcriptional silencing, you dont silence the gene but it happens one step after that after that. if completely targeted it'd be extremely effective however issue is the delivery. nanoparticles are usually used to deliver these things as their membranes can fuse with the membrane of the target cells and unload the iRNA(inhibitory RNA) into the cell. however the particles also protect the RNA from degradation because free RNA will be degraded immediately in the blood stream.
so the solution for hair loss would be, a combination drug with iRNAs for 5AR both types as well as androgen receptor, put that into a nano lipid particle, coat it with lipids that can be found on the surface of dermal papilla cells(this will ensure very targeted delivery and this is used in cancer science for example to deliver drugs to just the tumor and nothing else you can coat the vehicle with proteins primarily expressed on the surface of the tumor, signature proteins that dermal papilla cells also have), find the right size and charge of the particle and make it so they disintegrate upon entering the blood serum. then you put this on the scalp and massage it in so the particle travels down the follicular shaft.
this is all possible with modern science. this will make it very unlikely for the drug to go systemic as RNA is very unstable in blood and it would be a very potent combination to excert strong effects. this would be the maintenance drug everyone needs and this is the future for drug delivery however we are 10-15 years too old to really benefit from it.
however the only company doing this kind of stuff is Olix who said they start phase 1 trials this year. they haven't decided on the delivery but it'll probably be a nano lipids just like hutera(who tried the same thing very effectively with Crispr in animal studies). however Olix only makes iRNA agains the androgen receptor not against 5AR which would still be enough if the delivery is right. degraders and silencers as opposed to antagonists except a much stronger effect because an anti androgen eventually unbinds however a degraded receptor is just gone