I like everyone’s enthusiasm, but we aren’t considering the other side of the coin.
Bisantrene is only worth what Pharma are willing to pay. If it’s truly worth $100’s per share this will be recognised and taken over sooner, perhaps when it hits $30.
A TAM multiple doesn’t necessarily reflect value even if risk adjusted. The value is based on the use by the acquirer. In essence how it synergies with / compliments Pharma’s pipeline and ambitions.
Actual trials and approvals are also relevant as ‘potential’ doesn’t get much traction in biotech land.
Happy for the banter and speculation to pass the time. But let’s not get ahead of ourselves and firstly prove CPACS in the clinic first.
Speculative M&A Transaction Analysis, page-765
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