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4.1¢ incannex healthcare limited

Ann: Incannex Completes Acquisition of APIRx, page-43

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ringostar

1,381 Posts.

206

05/08/22

20:53

Post #: 62955698
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Originally posted by ma420: ↑

On $256Mn MC we are up 25% which is half the acquisition cost of APIRX! Our new MC is about $288Mn.

Think about it out it: Some of us would agree APIRX's acquisition cost of $125 Mn was a steal (Plus $7Mn transaction advisory cost). Even if you consider that it was a fair price, that means 288Mn (IHL's MC) - 125Mn (APIRX deal) = $163Mn is the current valuation of IHL's pre-transaction assets (OSA, LI, TBI, GAD + VR deal with Monash).

With the level of de-risking via pre-clinical results in the last 2 years and moving into phase 2 for a number of IHL + APIRX's portfolio, the company is still available for AUD $288Mn for a TAM in excess of US $400Bn which is AUD $574Bn !

Even if we can capture 1% of the TAM which is $5.74Bn, relative to current MC of $288Mn is about 20X from here on a Price to Sales basis. Usually MC is 4 to 5X Sales, which makes it 80 - 100X from here.

So for sales of $5.74Bn, MC could be $23 to 29Bn. No biggie!

(AIMO - all guesses. No advice).

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that maths and logic is mystifying, but, I like the way you think.

IHL Price at posting: 28.0¢ Sentiment: Buy Disclosure: Held
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