With other biotechs having been sold off I see Chemeq still...

With other biotechs having been sold off I see Chemeq still having a $200m market cap with a very low NTA and zero cashflow to date.

Looking at the plant being build that can produce 20 tonnes of "Chemeq" per annum the maximum revenue that can be generated is $20m (assuming they can sell all production and there are no production hiccups).

Now assume a NPAT margin of 50% (optimistic) the PE is still 20 and that's a best case scenario.

Considering the time till completion and the remaining uncertainties I see CHQ falling off another 30-40% as a possability.

The chart also shows resistance at $3 being broken, I have a target price od $1.50 which would be an okay entry point.

Any other ideas?