Be curious what your PV of future income streams is. That's so up in the air for wide and varying debate. The approaches you use are great in finance text books, but only a loose basis for share valutions on established businesses with very predictable future cash flows. There is tremendous value in the IP for a start and the existing contracts in Japan, that offer a basis for further regulatory and commercial progression.
Staff and admin costs too high, but the R&D has value, huge value. There is tremendous M&A value in that R&D and the company is ripe for partnership as its recent UTS progress showed, or takeover at this low mkt cap.
I am very unusual in that I had a Regeneus stem-cell treatment in Australia - autologous MSc cells in a torn shoulder labrum (a treatment no longer offered I suspect concentrating on Progenza and Sygenus across osteoarthritis, neuropathic pain and skin wounds). The technology works, but as MSB has shown, proving it via clinical trials is difficult.
The company needs a partner. Its future phase II trials in the US and Japan may well provide impetus for that.
As the other poster above pointed out, its a binary outcome. Bio-techs are like far out of the money call options. Often they fall flat, but when one comes into the money, it explodes. Few investors had heard of Moderna in 2019 (I had but dimissed it alas) and it traded a pittance to its 2021 high.
RGS Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
