Rodman & Renshaw Buy $1, page-24

Agreed, not long to go now.

It is a shame the RR research was just a re hash of the same old report that came out last year without taking time to adjust his figures based on the apceth agreement.

Obviously this guy "gets it" , but seriously his assumptions for a discounted cash flow valuation of $1 are no longer realistic. He still assumes only $1 million revenue in 2016, and $4 million in 2017.Despite the fact the apceth deal is in the vicinity of $40 million in up front option , license and milestone payments. And total disregard for a Regience deal or any others that are being negotiated.

Does he really think these German guys who are at the cutting edge of this technology are going to fart arse around for two years deciding whether or not to proceed with Cymerus?

So you can call me optimistic but he's out to the tune of at least $50million (plus sales royalties on top of that ) over 3 years!! How about putting a best case, medium case, and low case to reflect a range of different valuations based on different levels of revenue received and make it, a. More realistic and b. More professional, based on the the two deals on the table. I have no doubt $5 million of revenue over the next two years will be blown out of the water despite how slow everything is taking.

It is frustrating the company could not be more transparent with the $40 million figure from the Germans , but on the other hand a degree of confidentiality allows future deals to be optimised accordingly without a precedent pricing model having being set with apceth.

$3 -$5 a share is more like it, can't wait to see any broker/ analyst put his balls on the line and call it fairly. Until then it's not surprising we're stuck with a ridiculously cheap market cap . Where's Stuart Roberts with an update?