announcement, page-69

winning 10 bagger,

Estimated current ovarian cancer market is around $3.6b*
CVac has orphan drug status so is likely to be the only immunotherapy/adjunctive therapy. but Prima are aiming for a conservative 10-25% of the market.
Let's assume the worst and say 10%. That's $360m revenue per year.
(the upper side of the conservative estimate, @25% would mean $900m revenue per year!!)

Now, the profit margins of the top 25 biotechs is above 80%, (some are are 90%) But as we don't yet know the full production costs let's assume 60% margins

60% of $360m = $216m profit per year.

Divide $216 among our 1b shares and you get $.215 earnings per share.

Biotechs often have a 25-40 P/E ratio. Let's use a P/E of 20

20 x $.216 = $4.32


Remember, this figure is calculated using the more conservative side of each given number. So a $5+ SP isn't out of the question by any means.
Just by upping their market share to the still conservative 25% would make it a $10+ stock. (900m rev, 60% margin = 540m. EPS of $.54 @ P/E of 20 = $10.80)

Then if CVac is applied to all other Muc-1 cancers, the revenue will grow much higher.

*(It's my personal opinion that the ovarian cancer market value will grow, as CVac will initially be used asan additional treatment to standard of care.
Later it may replace chemo and potentially even surgery)

Obviously there is are a few unkowns, the main being actual production costs.
But I feel that my calculations are on the conservative side.
As in indication, Dendreon are aiming for 20% cost of goods for Provenge by 2014.