Biotech Values

[zipjet]

Rocky,

My comment and your answer address two different "valuations".

If future growth rates and future discount rates change; and/or you want a greater return (that bogey could easily replace the discount rate) then the PE is still calculable (provided the GR<DR, or the GR is for a limited period) - but the PE you would pay to achieve your hurdle rate is much lower.

I just did not understand your statement. Now I do.

ij