It's hard to value Acrux's pipeline and the analyst reports incorporate a large amount of guesswork. The sheer number of products in development and the cheap fast trials (testing delivery and not efficacy) are the strongest point, and it's quite likely that income will come from relatively small royalty streams on many different products.
On the other hand, Acrux has several product candidates aimed at billion dollar markets - Testosterone MD-Lotion, NSAIDs, Duomist, Fentanyl - and it would only take a big success with one of those to turn Acrux into a billion dollar company.
With the current market sentiment, though, estimates of future earnings aren't enough for investors. It will likely take actual earnings, or possibly even dividends, before biotech companies recover. (And many of them are going to go under.)
ACR Price at posting:
57.0¢ Sentiment: Buy Disclosure: Held
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