Nice comparison to again show the undervaluation, just one week...

Nice comparison to again show the undervaluation, just one week to the end of Financial Year then I expect them to get moving on the buyback, they have not really even started with buying shares so they will have around 8 months to buyback nearly 1.5 Million shares so they can do much higher daily purchases. This way at least the current year financials will still show enormous cash on hand (and next years cash should still increase as ~$25 Million for a buyback is not even using all profits) and next year will have a healthy increase in EPS due to less shares on issue assuming trials don't eat too much - I'm not even going to talk about Michelin catered Soirees.

I still like to come back to the ProMedicus comparison, PME is another rare biotech who like CUV has been growing revenues and profits for quite a few years now:

Pro Medicus FY2023 Revenue $125 Million, Profit after tax $60.6Million. Market cap $14.7 Billion. P/E 242
Clinuvel, FY2023 Revenue $78 Million, Profit after tax $30.6Million . Market cap $0.77 Billion. P/E 25

Pro Medicus certainly has some very happy shareholders because that extra $14.0 Billion in market cap for just $30 Million more profit than CUV is really something to admire. For me personally it just comes down to Vitiligo and the likelihood of success there with an already FDA approved drug, nothing else is priced in and you get all that other stuff like Tanning, Stroke, Parkinsons, VP and XP for free. PME doing a great job at protecting shareholder interests, attracting investment and fighting off shorters including via a share buyback. I expect PME to be growing quicker than CUV for a couple more years but assuming Vitiligo is approved then my opinion is Clinuvel will surpass PME profits after two years of Vitiligo sales (just look at CUV sales projections). PME is really priced for absolute perfection with a P/E 10 times greater than Clinuvel, CUV priced for nothing much at all especially if you take out about $200 Million for cash and put the P/E into the teens.

All IMO DYOR