I spoke to PXS last week about bronchitol to work out my own revenue assumptions.
The current leading product for CF has a market share of 30% and earns USD $16000 per patient per annum.
If PXS can crack just 20% market share of CF alone the revenue is AUD $210m per annum. This doesn't even include other uses for bronchitol which amount to another $200m plus per annum.
The first final phase 3 bronchitol trial results are due around mid 2007 then more at the end 2007 for CF. Approvals should come mid to late 2008.
I am looking for more around $2 for a 3 year plus hold.
PXS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
