MSB $1 Party, page-13

Market cap of $850 million. That’s getting closer to what it should be but it’s still very high.

Really, when you look at other spec bio companies with at least 2 years to go for their development phase you would see a market cap of around $100 million to about $600 million. Lots of risk at this stage.

Msb market cap is an outlying stock. Perhaps because of the hype and because they were, with hindsight, closer to getting something approved by the FDA 12 months ago compared to where they are today.

Now we know they have had terrible problems demonstrating they can assure the FDA they have robust quality control solutions, to the point where msb aren’t allowed to conduct any further trials. And because we now know the FDA requires further trials.

A SP of about a dollar is probably a fair market cap for msb given the stage of its product development.