Biotech Values

[mcbio]

Re: PYMX fully-diluted share count

FYI, there are about 40 M warrants and about 20 M stock options all exercisable around the $1 mark in addition to the 80 M OS.

Yes, I should have referred to the fully-diluted share count, which in PYMX's case is important given the large amount of potential dilution. I posted on this in #msg-50283519 in May and at that time there was the 40M warrants but only 10M in stock options. Are you sure that the stock options have doubled since that time? Either way, we're talking about a ~$126M fully-diluted market cap in the worst-case scenario (assuming 20M in stock options), which I think is still relatively small if they show continued success in the clinic and ultimately in the marketplace for one or both of their drugs.