OXGN + 30% can go to $10 quite easily: 5 MM float, Phase 3 drugs
OXGN has by far the lowest market cap of any Phase 3 drug stock. At the $2.25 closing price, OXGN had a $12 Million market cap with a very promising drug in Phase 3.
Every other biotech stock I follow with a drug this far advanced in the regulatory process has a market cap of $50 - $100 million. Not only is ZYBRESTAT promising for thyroid cancer, but it has potential in ovarian cancer and non-small cell lung cancer (NSCLC).
Want a comparable to provide a reasonable valuation metric? CYCC had a $100 million market cap last year because of a NSCLC drug candidate.
Even in a worst case scenario and OXGN issues another 6 Million shares, it would still have a TINY 12 Million float and Huge upside. Thats why it reminds me of RPRX. RPRX also had a tiny float, but went UP after it issued a few million shares as it STILL had a tiny float, and financing worries were alleviated.
Enjoy. $3.50 - $4 very soon.
