Its certainly intangible to a point, but there’s a tonne of examples of genuine biotech drug discoveries with commensurate market caps.
More specifically in our sector, GW Pharma had a US$3 billion market cap on the successful Epidiolex discovery (a genuine drug discovery) before they earned a single dollar of revenue.
Eventually acquired for US$7 billion.
At the moment I think we’ve seen lots of punters take their eye off the ball. I reckon some have sold out of fear or chasing the ridiculous lithium market (a conversation for another thread) but ultimately it’s all unrelated to the fundamentals of IHL.
The programs are all progressing. OSA (IHL-42X) looks unbelievable, more results due soon. TBI results are due in the next few weeks. APIRX appears to be a phenomenal pick up, I’m really liking the addiction opportunity with their gum. There’s so much IP in their portfolio.
It’s all going really well IMO. For some, an opportunity. Others will just be eyes glazed over focused on the charts.
IHL Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
