One must not ignore this:
"Share structure, market cap, biopharma sector, debt financing, convertible structures, and potential market all factor into share price. "
Forgot one more, cost of trials from current point of development to approval or license/government funding/next grant/funds access/etc.
If one does not consider all, then one is comparing apples to elephants to pine trees. There is a way to do a comparative value analysis among those three, but it's much more complicated than one elephant to one apple, and involves exactly what metric one wants to compare: i.e. apple per pound to trees per board foot.