GTC Biotherapeutics (fka GTCB)

[DewDiligence]

Re: Market cap and “enterprise value”

>gtcb now has 56 million in the bank and has a mkt cap of 80 some million dollars? Seems like the stock is somewhat undervalued for a biotech company with a product.<

At today’s closing price, the fully-diluted market cap is about $125M based on 107M effective shares for valuation purposes after the new LFB shares are issued (#msg-13731209).

This is dirt cheap, of course, but not as absurdly cheap as your market-cap number that is based on only the basic shares outstanding today.

Subtracting cash on hand (including the $25M of cash coming from the LFB transaction) and adding in debt and other liabilities, the fully-diluted “enterprise value” at today’s share price is just under $100M. This is the value that investors are currently placing on GTC’s business and IP.