In December 2018 when trading at $1.26 AVXL true market value was approximately $36 per share. Now with floor of $21 after recent market raise and the increased clinical development in my estimation puts current true market value at approximately $55. As I have often said please look at the the closest comparable to Anavex in quality of management and potential of the pipeline. Arrowhead. Look at the 20 year chart of both. Arrowhead is just 2 years ahead. The historical charts of both are extremely illustrative of successful pre-revenue disruptive biotechs. Same as undeveloped commercial real estate the value of a pre-revenue biotech is dependent on the most part of its location in the market. Get the proper permits and get it constructed and it will be a cash cow. Anavex occupies a unique commercial space. Best analogy for Anavex is an big block of Manhattan. <br /> Arrowhead is the next Regeneron. Anavex is the next Biogen without the price gouging and legal racketeering of a Biogen.