abnormal behaviour, page-69

Comparable Biotech-companies like Sinovac or Quidel
have a PE of around 15.

GSK has a KGV of 11 and Roche has a KGV of 12 and these are multi-national Giants !

So imho at least 15 should also be an adequate PE for Biota
(some small Biotechs have a PE that is much higher).

Provided that GSK will sell 95 million doses of Relenza
(which is imho quite conservative, since this is only
50% of production-capacity), imho this is the calculation of a fair share-price:

95 million x A$25 = 2.375 Billion A$
7% = 166 million A$
minus let´s say 66 million for costs
= 100 A$ / 180 million shares = 0,55 A$

FAIR SHAREPRICE:
0,55 x 15 = A$ 8,25

And this is based ONLY on Relenza-sales and DOES NOT
INCLUDE THE PIPELINE !

Including the pipeline the FAIR SHAREPRICE should
be ABOVE 10 A$ easily imho.

Analysts like Wilson work with a PE that is much
too low and absolutely inadequate for Biotech-companies !

Regards from Germany
Eric
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Please make sure that you do your own research as this is only my opinion and not an advice.