Are we really so desperate that we need to promote articles written as badly as this one? I take Adam Feuerstein´s articles over this one any day (and not because I am agreeing with Adam and disagreeing with this one).
Sorry, but this analysis is just total boooogus.
How can one take 2014 vs 2013 rev and assume share-price would move proportionally?
How can one say that 4 EU countries were selling in 2013 and 16 in 2014, so market is 4X (hey, there are 198 countries, so if we get approval everywhere, we have 198 times US opportunity, analyst predicts 400M in US in 2019 alone; that would be 80B worldwide if we sell everywhere; if we take 2013 market cap vs rev and assume same market cap vs rev in 2019, we should have a market cap of several Ts in 2019, share price should be somewhere in the Berkshire range, .... <sarcasm off>)
How can one seriously state additional opportunities with Rida now since Merck terminated (instead of talking about no chance of royalties; not that anybody still saw any value in the Merck collaboration before; but doing anything with Rida is probably No. 988 in Harvey´s list of things to do)?
How can one state that investors should watch that no future dilution is needed when it is already obvious that dilution or partnering (and therefore giving up future revenue) will occur?
etc, etc, etc.
If people get pissed everytime AF opens his mouth, people should get equally pissed at this article. If you don´t, you are not an objective investor (and not being one is going to hurt long-term success at some point).
