Just doing a quick comparison—CELC jumped ~270% on their recent news, going from around $14 to $39, which pushed their market cap to nearly $1.5B. CYDY, in contrast, sits at a ~$350M market cap. With expected compelling mCRC data and the broader applicability of leronlimab’s MOA beyond just breast cancer, I’d expect CYDY to reach at least a similar, if not higher, valuation.

With current shares outstanding, a $1.5B market cap would translate to roughly $1.20 per share—over a 400% increase. While $1.20 isn’t the ultimate target for most of us, I think it represents a reasonable floor—even if no other catalysts emerge in the meantime (which seems highly unlikely, in my view).

Realistically, we need something to unlock market cap before any buyout offer will approach fair value for leronlimab.