Chuigray, while I agree with your assessment, just to be clear, I believe you're saying whatever our price is in two years, we still have good chance for 500% growth after that. A buyout might well be at double the share price then, but not close to where the company will go if left independent.
It's certainly my belief that two years from now we should be looking at $5 to $15 or more, depending on the news by then. I believe we'll have approval largely around the world for at least GBM. A big question may be, if we're expanding from GBM in a major way, or if it's still limited off label use of the vaccine by people who can afford it. If insurance is paying for significant off label uses, the price could be well above my $15.
Frankly, if we said in two years we were $15, I would rather see an equity partnership for $20 to $25 than a buyout at $30. With such an offer the stock would immediately trade at roughly the offering price, but we'd have a stock that could do 500% or more from there as new approvals including DCVax-Direct greatly expand sales.
This is taking longer than any of us thought a few years ago; however the opportunity has only expanded. The company now has far more technology with recent additions, and with the approval of EDEN and hub and spoke manufacturing, they have to opportunity to grow dramatically without massive investments in new hubs. They'll almost certainly need some new hubs, but if spokes are acceptable in much of the world the size of each new hub can be far smaller, possibly just contracted with an existing facility.
By the way, in the back of my mind I'm wondering if LP isn't hoping the approval will occur during the delay in issuing the Annual Report. If it did, I'm sure she could revise some of the language in the report, it wouldn't effect the financials.
Gary
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