Not a bad light read on valuing clinical stage biotech stocks that have and FDA approval or EMA product- hate to cross promote but ALT comes to mind here. Interesting that historically biotechs are valued at about 3 times the peak annual sales of the company's lead candidate.
Also interesting is an example of a P2 NASDAQ listed stock with a market cap of US$448m with a cancer drug in development of which only 8.1% of oncology candidates that made it phase 2 went on to earn FDA approval so low shot at success but still holding a fairly large MC- mind you peak estimated sales with full market capture are $5b so huge if it comes off but only still on an 8.1% chance and a MC of AUD approx $605. Shows the differnce between US and AUS biotech markets
https://www.google.com.au/amp/s/www...w-to-value-clinical-stage-biotech-stocks.aspx
Bell Porter Review, page-3
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