NVAX has a 10b market cap, we are sitting at a 1b market cap. So if we set our sights at NVAX valuation, we should see 10x current PPS. And I am okay with that.
Keep in mind Novovax only has 59M shares OS with 10B market cap. They recently went through a reverse split to maintain NASDAQ PPS requirements as they were at risk for delisting.
Let's assuming this company eventually demands a 10B market cap. That'd be $4.75 PPS or thereabouts since this has a 2.1B OS.