Of course the valuation is forward looking. However, it may also be conservative. The total NAUREX deal with Allergan was about 2 Billion dollars. We just saw Sage rise about 2 billion in market cap on a positive Phase 2 trial.. Then Sage went even higher because of the potential of that drug to have another indication...
Lets say 50 million shares of VTGN is the number out by this time next year. The Chardon valuation is barely over 1 billion dollars.
Considering the NIH wanted to test originally for pain, and their are peer reviews positive for Parkinson's pain and Hodgkinson's who knows what add on value that create.
Then there is the value of the stem cell deal that is currently working with a bayer through a subsidiary. That could bring tremendous value to other pharmas due to saving them a fortune on drug trials that fail due to safety. This type of asset is certainly coveted by Asian countries.
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