Latest evaluation based on 10K
No dividends, no earnings, no growth estimates, no sales estimates.
Because of this, there is no PE, PEG, PS, FCF.
Almost all evaluation models such as FCF, DDM, or PE are null.
The only reliable measure of valuation is the price-to-book.
Based on MRQ and Friday's close price, GNBP's PB is 136.18
Growth opportunities can be estimated from PB by comparing the rate of growth in ROE and PB. Similiar or identical rates of positive growth in both multiples are a good indicator that the stock generates high returns and that the market may not be overvaluing it. However, GNBP generates no returns and is experiencing negative growth rates in ROE and PB... not a good sign at all.
With GNBP's negative, triple digit ROE and outrageously high PB, we can reasonably assume this to be a reliable indicator that this stock is still grossly overvalued.
When 10Q is released we'd like to see an increase in ROE and further decrease in PB and close that gap up nicely if there's any hope of GNBP actually being a profitable company trading at a fair price. In order for this to happen, GNBP's price must come down and they must begin earning revenue.
Due to continued lack of earnings yet an increase in common equity, I'm revaluing GNBP's intrinsic worth from my earlier estimate of $0.0061 per share, to $0.0086 per share - this also happens to be the current book value per share.
Disclaimer: I have no positions in GNBP and never will.
