short answer: I've got no idea what Biotron is worth.
long answer. There are three possible scenarios:
1)Pessimistic. Trial results aren't impressive enough and no deal is forthcoming. Biotron struggles on by itself, eventually tapping shareholders for more money.
2) Madly optimistic. Trial results are so good that big pharma buys the company. At least $2 per share (valuing buy out at over half a billion) and maybe significantly more. Anything less and management would simply opt for a partnering deal.
3)Realistic? Trial results are impressive enough that big pharma enters a low risk partnering deal. Michelle Miller has mentioned a possible upfront payment of around $20 million (in one of those videos interviews) plus milestone payments and royalties down the track.$20 million doesn't sound much, but it could be a real game changer for Biotron, particularly if the big pharma partner picks up the bill for expensive phase III trials. That would give Biotron the wherewithal to advance 2nd generation HIV/HCV drugs as well as those targeting Dengue etc.
What the company would be worth if BIT 225 goes all the way to market is anybodies guess, but it will sure as hell be a lot more than 9 cents a share.
We'll know more on Friday.
good luck to all, particularly to you, Sav.
BIT Price at posting:
9.0¢ Sentiment: Buy Disclosure: Held
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