(Total Views: 509)
Posted On: 12/19/2019 4:40:39 PM
Post# of 154009
My thoughts on where we could go in the short-term on PPS.
The obvious public benchmark is TaiMed. They shot up to a market cap of $1.7B when they signed their marketing deal. And they have traded in the range of $1.2B - $2.6B. Given that they had a much stronger balance sheet and a partner with a stronger balance sheet, then our comp should be below theirs. However, we have a LERO which serves HIV COMBO MDR2+ vs. their MDR3+ -- so our market is bigger. And of course, we have all the additional indications -- which aren't priced into our market cap at all.
Bottom-line: I think we should GAP up to $1+B market cap sometime between filing the BLA and approval of the BLA -- for COMBO ALONE. And if we shore up the balance sheet, then we should definitely see $1.2B+. The valuation beyond COMBO is too much to even contemplate at this stage (at least for me
).
The obvious public benchmark is TaiMed. They shot up to a market cap of $1.7B when they signed their marketing deal. And they have traded in the range of $1.2B - $2.6B. Given that they had a much stronger balance sheet and a partner with a stronger balance sheet, then our comp should be below theirs. However, we have a LERO which serves HIV COMBO MDR2+ vs. their MDR3+ -- so our market is bigger. And of course, we have all the additional indications -- which aren't priced into our market cap at all.
Bottom-line: I think we should GAP up to $1+B market cap sometime between filing the BLA and approval of the BLA -- for COMBO ALONE. And if we shore up the balance sheet, then we should definitely see $1.2B+. The valuation beyond COMBO is too much to even contemplate at this stage (at least for me
).
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