Back in 2021 there were 665m shares on issue and SP got to 20c prior to approval which equated to a 133m market cap. On actual approval it was anticipated share price would go to 50-60c. Take 45c as a conservative target would have given it a 300m market cap.
We have 1.148b SOI today so to match the 300m mc above share price would be 24-25c.Now obviously there is the view that at 20c back in 2021 it was overvalued and on approval it may only have increased by 20%. That would be a 167m market cap and would equate to approx 14c today.
So definitely stands to reason that on approval in 2025 the SP would be between 14-25c, hence 18c on approval being a reasonable target IMO. DYOR.
BPH Price at posting:
0.8¢ Sentiment: None Disclosure: Held
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