My answer would be that there is obviously a degree of risk plus development costs and time before that value is realised. People's assessment of risk will vary which will influence final value estimates.
But I also think there is a significant element of incredulity at the numbers generated that makes people drop their valuations as for example KJK pointed out with his extraordinary analysis of Hashan de Silva's numbers. I honestly feel that Neuren's business is very poorly understood outside of the inner circle (and I include the rusted on posters present here in that group). If I discuss NEU with anyone who doesn't know the story well I am invariably met with comments like "But aren't these syndromes incredibly rare" or "How many people have these syndromes" or "but it's not curing the disease" etc etc which so miss the point that it is actually laughable. And these are intelligent people making these comments. Make no mistake if NEU was working in eg the cancer space rather than orphan disease and demondstrated the success it has had the share price would be multiples higher.
Time will tell as usual.
NEU Price at posting:
$14.44 Sentiment: Buy Disclosure: Held
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