what's it worth right now, page-10

Assuming we sell the full 190m:

Revenue 1.7*190 = 323
Costs 40
Profit before tax 283
Earnings per share 283/171
= $1.65

This will get affected by the amount of tax. They had about $80 million in tax credits at the half year mark. And of course they have to first sell the 190m, but even if you account for all this BTA is massively undervalued at present prices. Once relenza patent runs out, LANI should be ready to take over with probably an increased revenue stream.