the valuation seems low because it's likely that ATE.v will seek a partner to finance phase III trials. Less dilution but ATE.v will probably get a royalty versus actual revs from the drug. Royalty level mentioned in price target was 17-18%. Discount for time,unknown market penetration and the need for a much bigger pharma to finance phase III are reasons why the price target seems low.
I expect a big pop if the phase II results next week are positive. Since actual commercialization is several years away, that is probably a good time to take profits.
As I stated in my first post, I was not early to this stock. It was C$.09 in late November so holders prior to that are sitting on a 4 bagger and C$.85 would be a 9 bagger.
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