$5.30 target price, page-5

Brent,
Quote: ”Champ, given the information we currently know, the nature of Biota's earnings doesn't actually justify a PE of 10. We don't yet have Lani reuslts etc. Currently, Biota is supported by Relenza royalties, and at peak production we may earn the 53.6cents, but we can't assume this production will continue at these levels indefinately. If we don't take into account Lani etc. then $2.50-3.00 is probably roughly a fair valuation for the Relenza royalties.”

Can you elaborate on your statement?
No of shares is approx 175 million.
Earnings you stated: 53.6 cents = $93.8million = 55 million courses (Using the UK order 1 course = $1.70 per course)