company is currently valued at 90 million with 30 million in the bank.accordingly all other assets are valued at just 60 million
I don't think subtracting cash from the market cap to get an enterprise or technology value makes sense for biotech companies with no income. The cash is going to be needed. A better approach would be to *add* a "cost of capital" sum (or multiplier to reflect dilution from future equity issues) to companies that *don't* have cash.
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