coporal, because PPHM is a Small Cap Biotech of which it is known that they take years in research and FDA approval program. 10 to 15 years is no exception.
You used the word MANY in your statement and that is correct is you compare companies in COMMERCIAL PHASE (those that SELL some product(s) and/or Services) and are quote driven based on revenue, market share changes, new product announcements and other competitive measurable things.
PPHM isn't there yet. Neither were the .COM shares in the beginning. Where PPHM is without any doubt quoted under its REAL value the .COM were largely over quoted compared to their value (actually they had NOTHING). Most failed and stopped, some successful once made it but few reached a real value comparable to their market capital (PPS * outstanding shares).
And just as those .COM cannot be compared using the standards you mention, PPHM and many in its sector, cannot. Notice how most, if not all that succeed, are in miserable quoting positions until the breakthrough news that overnight catapults them up.
And many if not most of these companies received the same comments from the markets saying this and that about there performance well knowing that those companies can in that stage NEVER stand a comparison with commercial companies.
In biotech more specifically there is also the early sell-out of IP and pipelines that of end with all the potential value being given away to BP and investors at breadcrumb prices just to keep the light on and research going. Then they are absorbed and the share holders get a small reward.
With PPHM we have all the IP and Pipeline 100% unencumbered and they will be valuate at due time. Ofcourse as long as that has happened the stock remains vulnerable to doom scenario's.
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