Hi folks, thinking of putting some money into this as I think the science is good. I would like to hear from people to see what they think of the current SP.
Currently there are some 143mil shares on issue. As a rough measure, when the company gets to a point where it has completed phase II trials and perhaps started phase III, the company MC will be around 200-300mil $ mark. To get there the shares on issue will usually reach about 1.5 billion shares. This means by then the SP will be about 15c-20c ... as a rough first order calculation and some factoring in of dilution as I have seen in other biotech companies over the years. If this is roughly right, then is the current price of 7c fair value?
Many thanks for subjective responses in advance.
Ann: Half Yearly Report and Accounts, page-7
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