Guppi00
Your approach is reasonable except for two items. Because Chelsea does not have a sales force lined up, and because Chelsea does not have manufacturing costs figured out, and a cost for Northera can not be determined and therefore no price to consumer can be determined. Without this information, even though Chelsea has stated the number of people affected, a market size and value of the drug can not be determined. For a potential suitor to do this takes time and money on the part of the suitor. Chelsea should already have these answers (of course a suitor would check there validity), therefore a determination of the company value based on future revenue could be made. Since that information has not been forthcoming, valuation of the company based on the stock price is all that can achieved.
Sometimes the stock market seems like sailing a wooden ship into a sea of burning oil.
