For those of you who didn't bother to do your DD or didn't bother to do the math,
1. Do some research on the drug in phase 2 and look at the results.
2. Next, do the math. Assuming dilution and 46 million shares outstanding, and knowing that most oncology companies are over $300 million market cap MONTHS before phase 3 is even complete, AND knowing that this company is working on CAR-T, which is huge right now (think $12 billion buyout of KITE), AND remember the company has A LOT of cash. we have:
$350 million market cap / 46 million shares = $7.61.
If the market cap is higher due to its other drug pipeline, say assume $600 million market cap / 50 million shares = $12.
Now imagine that phase 2 was pretty good, and phase 3 is very likely positive, the you get the picture. I'll let you do the numbers. Comprende?
