Another great day so far, with great volume on both the Canadian and the US front. It’s clear that the placement by now is filled, but I guess we could get another leg on the actual closing date.
I think what will matter to investors soon is what the Company planning following the close of the placement. Once we have better color on that, we will be able to better assign a valuation on the next milestones.
As someone pointed out, InMed is still trading at the IPO price, so realistically all this nice uptick is just a valuation gap that needed to close. At 25 cents, we are still giving zero value to what the Company has been doing over the past year. Clearly, the more milestones they would report on, the more likely we will be able to know what its worth.
Each drug that goes into pre-clinical trail phase is worth anywhere between 5 and 20 million dollars. The big range is dependent on variables like size of the market, funding, location of trail, who is undertaken the trail..etc.
So if they can get a blockbuster drug for Glaucoma that alone would justify doubling their current valuation from 10M to 20M.
Again, its going to take some milestones to get there, but my DD tells me that it want be long before those milestones come to fruition.
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