After approvals worldwide, if NWBO hasn't yet undergone partnerships establishing higher value for the share price, like most other biotech's with approved drugs, NWBO's share price should become a function of the earnings from its sales. At this point it's impossible to say how long approval worldwide will take, I'll consider it worldwide after the 4 regulators we're working with have approved, as others will accept that without further trials, but we've not yet been given guidance on when the company intends to approach the other 3 regulators. I would certainly hope that by the end of 2025 we have worldwide approval.
If the end of 2025 is correct, the question at that time may be, is the available supply of DCVax-L equal to the demand for it. If it is, than earnings could be exceptionally high by that time, but if not, earnings would be limited to the company, or more likely it's contractors, ability to make DCVax-L for every patient that wants, and can pay, for it. If at that time it's largely brain cancer, it's possible, but if off label many cancers have been determined to be successfully treated by DCVax-L and insurance coverage is available, the demand could easily reach millions of vials of the personalized vaccine annually. If the EDEN is producing 50 vials a year, think of the numbers of EDEN units that will be needed, is it possible to build that capability that quickly. Frankly, even if we're unable to meet the demands at that time, the fact that demand is that great ought to indicate that our P/E will be at the high end of the range, perhaps even over the 30 X that's normally considered high.
I don't know where we'll truly be by the end of 2025, we could have been bought out before, but if we have worldwide approval by then, and if we have extensive off label use, I think we have every reason to believe our share price will be well up in double digits, if not in triple digits.
Gary
