From today's announcement.
$100,000 USD Signing fee
• $350,000 USD Completion of clinical studies and receipt of CE mark for first product
• $750,000 USD First product to gain FDA approval
• Royalties from Breast Sling and Breast pocket 4% for the first 3 years then 3% ongoing
• Royalties for a biodegradable breast prosthesis 6% for first 3 years then 4% ongoing
Have a good look at what the Breast sling and and Breast Prosthesis market is worth first of all?
Yes that's right US$2 BILLION per annum, it would not surprise me that if this new area works out well for both PNV and EL going forward, I think women would want something that dissolves in time and just leaves their own tissue in place in the end rather than having a plastic filled bag of Silicon in there forever, something that is both aesthetically pleasing and feels the same as a normal breasts would over time would have to be a winner you would think surely?
I do believe Establishment Labs will capture a very big slice of that market going, lets hypothesise here, maybe 50% or more of that market going forward? possibly?
Now lets look at what around 4% of that market could be worth once they reach traction?
50% of a US$2 Billion PA market would be US$ 1 Billion, now lets look at 4% of that, It is
US$ 40,000,000 each year and possibly a good deal more, now lets apply a PE ratio of 25 to this, which is not over the top, some PE's are closer to around 30 from what I read?
That equates to US$1,000,000,000.
See here-:https://www.gurufocus.com/sector_shiller_pe.php
I know these sorts of figures will take time to be achieved, but given time I believe they can?
Sector Number of Stocks Shiller P/E Regular P/E 1 Energy 31 18.70 30.70 2 Consumer Defensive 38 21.80 20.60 3 Communication Services 8 22.10 8.00 4 Utilities 28 24.30 22.00 5 Financial Services 74 26.40 18.10 6 Industrials 72 26.90 23.10 7 Healthcare 61 28.90 29.10 8 Consumer Cyclical 81 30.50 28.30 9 Basic Materials 21 32.40 23.80 10 Technology 63 36.10 32.40 11 Real Estate 29 46.80 29.90 12 S&P 500 500 31.6 24.7
And this figure is only for that one platform, go figure what the rest will do for us!
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