What the price is reflecting is the current uncertainly for this firm - yes, it could get milestones and hold market share in a growing market and even create / acquire some new streams. Under than scenario ACR is worth well north of $2... HOWEVER, as you say - it could all go to crap. The FDA could tighten the labeling rules, generics could take market share or the firm could just not do anything more in terms of revenue lines and Axiron fades into nothing... now under that scenario its worth well less than 70c (depending on how fast that happens).
At $1 the market is telling me that people are weighting this to the downside scenario... that's fine. As a speculator however i'm willing to bet the market is wrong here... good luck to longs
What the price is reflecting is the current uncertainly for this...
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