Interesting, however the value of FTT is surely more influenced by its likely worth in the future (earnings, sale or licensing deal) rather than being comparable to other Biotech companies at the same stage of development (which have their own differing values based upon the same criteria).
FTT does have "history" and possible needs to prove itself before it sees greater interest from investors.
FTT relative valuation suggests fair value of around 20c, page-2
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