Clinuvel market cap now nicely manipulated to well below the...

Clinuvel market cap now nicely manipulated to well below the Billion dollar mark, even down to about $750 million if you take out the $150 Million Cash on hand that Clinuvel holds. Two other great little Aussie Biotechs are around the $0.9 Billion market cap. in MSB and IMU. MSB and IMU are given this valuation on purely the hope that one day they will generate significant revenues and then the further hope that this will turn to some sort of significant profit. CUV is already generating significant revenue and profit and is given a quite lowly forward P/E of between 20-30 compared to the infinite P/Es of MSB and IMU. In other words the full MSB and IMU valuations are based on the hope of their pipeline, while largely CUV is valued on a current 'proof of concept' indication with very, very little valuation given to their pipeline. This is despite major indications in the CUV pipeline like Stroke, Vitiligo and smaller indications like XP and VP which will be using an already FDA, TGA, EMA and Israel approved drug. No valuation either for OTC's, Neuracthel or significant future growth in the EPP market. The last half yearly accounts for these 3 companies show how CUV is miles ahead on financials at this stage because CUV has commercialised a small indication and is generating significant cash. Also please note these figures for CUV are for their seasonally weaker half year, the 2nd half is always much stronger due to Northern Hemisphere summer.

Mesoblast:
1/2 Y Ended DEC 2022 Revenue: $3.6M USD
1/2 Y Ended DEC 2022 Earnings: -$41.4M USD (loss)
CASH ON HAND $67 MILLION

Imugene:
1/2 Y Ended DEC 2022 Revenue: $4.8M
1/2 Y Ended DEC 2022 Earnings: -$17.4M (loss)
CASH ON HAND $162 MILLION

Clinuvel (CUV)
1/2 Y Ended DEC 2022 Revenue: $29.4M
1/2 Y Ended DEC 2022: $14.6M (profit before tax up 67%)
CASH ON HAND $141 MILLION with no debts

So the above 3 companies all have market caps around $0.9 Billion. To find a company with broadly similar financials, another great Aussie Healthcare/Biotech stock is worth comparing in PME - PME has a whopping 6.2 Billion market cap and an impressive forward P/E of 110. Some interesting recent announcements with PME including large insider sales but more significantly they have a Share Buyback in place. Share Buybacks are great for protecting shareholders from algorithmic, downward price manipulation and the Clinuvel board should address this. So to compare the recent financials between PME and CUV see below, remembering this is the weaker half for CUV, very hard to see why there is a $5 Billion + difference in valuation when CUV even has more cash and is targeting some serious future indications as well as something of a Holy Grail in a 'Self Tanning' OTC which I guess is your own body stimulated to a real, protective tan. Sounds like a big deal.

(PME)
1/2 Y Ended DEC 2022 Revenue: $56.9M
1/2 Y Ended DEC 2022: $27.2M (profit after tax up 31.5%)
CASH ON HAND $65 MILLION with no debts

Clinuvel (CUV)
1/2 Y Ended DEC 2022 Revenue: $29.4M
1/2 Y Ended DEC 2022: $11.4M (profit after tax up 94%)
CASH ON HAND $141 MILLION with no debts

Everything is just my opinion and observations based on the financial reports and announcements I enjoy reading. DYOR