Yes, PS is commonly used to value biotech (especially pre-revenue companies) so MC doesn't play directly into that. At the same time, how many times have you seen a company get BO offers at a 1000%+ premium? 1000% would be $4.55, 2000% would be $9.10.....and what many of us here and the BOD currently consider closer to fair valuation (with clinical cancer results) would probably be closer to 5000%+ or $22.75+. I'm not saying they will or will not accept an offer of $10, but as their fiduciary duty, they would have to seriously consider any of these offers and explain why any such offer was not accepted (if declined).

I think MC or share price is important for any such BO discussions to get any such multiplier more in-line. I would be happy to see them license HIV and keep everything else and later apply a PS or PE multiplier to sales (4) or earnings (15) and calculate our share price. We have a little further to get to sales, but the multiplier should begin coming into play much before then.

I hope I'm wrong with my logic above, but I know one thing that will resolve much of these crazy and significant undervaluation concerns.....a higher share price of $3-5+.