Biotech revenue ratio to market cap

I know it is a tad early for this discussion, but I have always been intrigued by the huge multiples of revenue to market cap investors place on some biotechs. Multiples of x10 or higher are possible. I have also seen biotechs with negative earnings with high market caps, just based on expectations of future earnings. Maybe we will see some of that here, when 201 demonstrates an approvable treatment for MSA, with the implications it may work in other Parkinsonian conditions. No guarantees, and there is a lot riding on that little trial, and the odds look very, very good.