MannKind Corp. (MNKD)

[DownWithPumpers]

Let me throw-in a comparable: Bristol Myers's acquisition of Amylin for $7 billion in June 2012.
...
That is barely 75% over current market cap, and was for a diabetes company which key product (Byetta/ Bydureon) was clocking $520 M in sales


But they had 2.9 billion in predicted sales: http://www.firstwordpharma.com/node/1129448#axzz35Nltvo7N

Let's do the comparison using your numbers:

Actual sales 0 versus 520 million.
Predicted sales 1 billion versus 2.9 billion.

Market Cap 4 billion versus 7 billion.

Also please note that Amylin, like most other new drugs, fell well short of expectations (dreams).