That is a really good point Balkan - would then be 9 years from previous 2016 numbers, to which 10-12 would be a conservative-ish assumption to make that a buyer would agree upon for M&A valuation sake.
Ill have a play with the DCF over the coming weeks regarding this and other inputs, it will be interesting to see what comes from it. If any others have any other thoughts, or links to scientific papers, I am all ears.
DCF Valuation Model for Invex Therapeutics, page-78
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