Given the current lack of generics for Jublia and Acrux's likely...

Given the current lack of generics for Jublia and Acrux's likely access to the 180 days of generic market exclusivity, I believe attributing a 10% market share would be extremely conservative.

With US revenues for Jublia around US$280 million and accounting for 25% royalties, this would equate to AUD$9.5 million pa. in revenue for ACR, beginning in 12 months.

Keeping in mind, this is just 1 out of 13 upcoming submissions, with the latter number likely to further increase. Even with today's 16% rise, a market cap of $26 million still makes this company the most undervalued I can currently find on the ASX.