Pulmatrix Inc (PULM)

[riskon]

I ran a quick down and dirty valuation on PUR1900 just for US ABPA (even though this is a global partnership, and there are other indications Pulmazole could serve) -- and I calculate the approximate current discounted and risk-adjusted value of PUR1900 to be ~$14-$28 of shareholder value.

This still assumes the 50/50 revenue share with Cipla, a 30% OCF percentage, a 10% cost of capital assumption, and a ramp-up to the target $1.5B estimated market size.

Some rough assumptions but this is one methodology 'stock price targets' are generated by, among other methods.

This is why the conversation about the stock price being traded at cash value ($70Mcash/50M shares = $1.40) and no future value embedded is so important. This analysis suggests we should be well over $10+ on the value of Pulmazole US ABPA alone.

And this value will greatly increase as Pulmatrix gets closer to commercialization.



$PULM