1,620m (Market Cap) - 210m (Cash as of 30th September) - 50m (Cash from Milestone Payment = 1.36b~ EV.
We are going to earn between 216-218m in net income. Our expenses in H1 include R&D was 20m, so our full year expenses are likely to be 40m~. That is 176m pre-tax profit.
That is a forward PE of 7.40~ on 2024 numbers and 6.4~ trailing on pre-tax earnings.
Note: pre-tax (2023 was 205m pre tax profit, 157m NPAT)
Yes there are impacts of one off in that equation but there are still plenty one-off payments due to be paid over the next few calendar years, particulary when ACAD expands Daybue into RoW.
And what is the value for NNZ-2591 in this equation? right now it's a a negative value - even with the most conservative of estimates. We also have no debt, and our product is the only approved product but there's zero credit given in our valuation.
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