Sorry - not buying it. The market cap is 10 million, yet the "services business" is barely cash positive. They have 3 million in cash, but most of that will be burned on the Phase I trials. Their valuation is pretty high considering that most drugs fail Phase I, and very high considering that this drug is targeting a small, specialty market.
Right now, 10 -12 cents seems fairer value.
research , page-16
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