As usual, a great post by you Stockrock. I just wanted to include this link about biotech P/E's which I thought might be helpful to further analyze your projections. Earnings are the holy grail of biotech so a P/E of 20 certainly has some upside.
https://money.stackexchange.com/que...technology-industry-have-such-a-high-pe-ratio
Using a P/E of 20, page-5
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