Just to engage in some fantasy, Biogen got conditional approval for its Alzheimer's drug yesterday. How would such an event affect Kazia?
BIIB has 150 million shares outstanding. KZIA has 10.7 million (between US and Oz).
BIIB went from 295 to 395 yesterday on approval of a drug estimated to have $1.3 billion in sales in year 2023. Easy figuring, that's a $15 billion increase in market cap. Assume the same sales for the total of all indications for Paxalisib. Divide $15 billion by 10.7 million to get a similar target for KZIA. If the answer isn't $1,402, then I'm doing something wrong.
For KZA shares, divide 1,402 by 7.74 and get 181 AUD.
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