biotech and pharma get a very high valuation attached to each dollar of revenue. so you could attach a multiple of 5 or 6X revenue - even higher based on the indication, expected growth rate, etc. I spent several years in the M&A world - you just don't see multiples that high in other industries (with the exception of some spaces within tech).

So, say Leronlimab produces $1 billion in revenue, the valuation could be $6 billion in market value (buyout value). Obviously, we're here because we think Leronlimab can do much higher revenue, but this is a simple example.

It's a little more complicated in reality - they will project future sales, and then discount that number back to current, using the weighted avg. cost of capital of the acquiring company, but you get the point.

This is why people have been so excited over the years. Just as a (since it's Friday) example, say Leronlimab does $10 billion in revenue - well, that could equate to $60 or $70 billion in market cap - and our market cap today is around 170 million. Hence the outsized opportunity if they end up getting this drug to market.

But......as fun as it is to speculate - they have to execute as a business first, ideally while I am still alive. At this point, I may have to invest in a cryogenic chamber to preserve me until that happens.....just kidding...sort of