Ann: Axiron Net Sales for the Quarter to 31 March, page-37

re: Ann: Axiron Net Sales for the Quarter to ... "This will be a slow and painful death drop back to about 30c IMO. Way to much uncertainty on this one."

30c - now thats a big call here... so you are saying this firm will have a $50m market cap and a EV of <$27m based on current net cash position.

Given they have milestones of US$50m (in FY15 or FY16 depending on how they go) and a further [potential] US120m in addition to a royalty income stream min. US$30m pa... 30c is very very unlikely in my opinion. - short of the FDA doing something drastic here!!!