In my opinion, based on rough calcs, research, intuition and a...

In my opinion, based on rough calcs, research, intuition and a bit of fuzzy logic, current value is probably around 30c. This takes into account the risk of things falling over, running out of cash and needing more CRs etc etc. I think the market however is taking an ultra cautious approach right now given that there are still a few unknowns out there, so the current price is significantly discounted.

At the end of the day though this is just academic as there is no definitive way to put a value onto known unknowns and unknown unknowns.

If FDA approval for SB happens, which let’s face it, is a high probability, that could take us to around 50c. If revenue starts to approach some of the projections we’ve heard, we could be closer to 1 dollar.

If we get traction on antimicrobial, acne and rosacea, and bearing in mind that this could take years, then we could be looking at 2, 3, 4 or 5 dollars, depending on how the chips fall.

All just my opinion of course and at the end of the day the proof of the pudding will be in the tasting, but suffice to say that there’s some massive upside potential here.