Lets just get to the 100-200m first but at least allow me to have the range I nominated of $200-400m (I specified 400m as overvalued just because it was the top of this number). I had a discussion about a month ago with a reasonably well known analyst about comparison companies and he named about 6 from memory (none domestic) that were all in that value range. I don't have them written down sorry but I encouraged the company to consider getting him to write an investor piece (along side my encouragement of them considering a webinar and/or investor roadshow) which I believe they were already considering and may be in train so I am hoping something might emerge on that front.
I have now skim read the Euroz report that came out a couple of days ago (not my right to share the whole thing publically sorry but they had obviously sourced similar material as was in my PYC for dummies post) that has a spec valuation of 7.5c but hints that with a few correct moves this could be opened up significantly. They list 6 catalysts for the SP and one is still key in my opinion - PYC is currently without a CEO: We would see any bolstering of management/board ranks with someone from industry background as a positive. PYC are currently screening candidates. Outside of an alliance deal we see the ability of PYC to attract key staff as important third party validation for the company.
The comment 'PYC are currently screening candidates' is a typical pearl that you can get from broker reports - we have heard next to nothing publically on this front but they have obviously had some sort of discussion that this is in train. Personally the CEO and Board appointments are critical in the next 3 months as the SP has obviously shown it is desperately keen to rally in the absence of this being resolved - with the right leaders added it could see a significant re-rate. I am still hopeful that the reason it has take so long is that they are sticking to their guns on trying to attract serious hitters in the drug development space but I may have taken the red pill instead of the blue pill and could be a little delusional.
Peptidreams is one company that has managed to attract US style valuation but we have all learned caution with using it in the same sentence as PYC - the irony is that Peptidreams has always been a worthwhile comparison because it shows what can happen to a stock on another exchange with a concentrated shareholder base and big pharma deals. If you put $25m insto money and the right CEO/Board into PYC and keep roughly the same concentration of shareholders then 400m wont be overvalued anymore IMHO. VLA is in the low 300m area and I think it could hit 600m this year - the bidding war that could ensue when Pharma try to lock up it's complimentary potential so their competitors don't get their hands on it will make quite a story someday.
So far we seem to have re-rated on a Genentech payment and the progress of the iMYC program. If Stat5 or YB1 come into the fray (only requires money) and perhaps the muscular dystrophy work then PYC could argue to be more diverse than VLA and able to leverage its platform despite being a year or 2 back in the development phase.
You can see I am trying to make the most of a single post cause this might be my last one for a while!
By the way - a quick shout out to my stalker on the other site - it's definitely creepy but your persistence is admirable.
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