Well, there's a very significant disconnect between what the...

Well, there's a very significant disconnect between what the market thinks this company is worth and what I think.
There's 85.1M shares issued of which the company now holds 3.8M with a further, say 9M to come in the next 6 months. So today at $5 the market value of this company was $406M.

My very elementary sums are :
THMD products have possibly delivered around A$50M in cash in the 12 months we've marketed them. Here's my source:

And they sit on our books at $363M so that's a multiple of about 7. I think this should be higher but let's assume the lower figure of $363M.

We now have Rhofade which by my calculation can deliver about half of those earnings/year, so my valuation for this product is well over A$100m.
So that's A$463M just for this.

Now factor in :
No debt
Cash A$160M (maybe less now)
Nexstellis (now profitable)
CDMO and International Products (remember Metrics was sold for 15 times earnings)
Dermatology franchise (even without Rhofade is probably going to deliver big earnings this year)
All three business units growing
Little to no exposure to generics

I won't bore you with more figures but my valuation right now is between A$1B and A$1.5B which translate to about A$12 to A$17/share
Cheers
PS I don't think that any long term holders are selling one single share in this.