The major difference being Novavax has 62 million shares OS, Relief has 2 billion. At $23 Relief would have a market cap over $50 billion. Don’t think so!!
How many doses will be required globally? If, over the course of the pandemic (estimated at 5 years), only 1% of the world's population (76 Million people) will require dosing with RLF-100, either to prevent worsening of their condition, to recover from a critical condition, or even as a prophylaxis, that would equal 228 Million doses (at an average of 3 doses per patient). If each treatment dose results in only $50 to Relief Therapeutics net, that equals $11.4 Billion in net income over 5 years, or $2.28 Billion per year on average. Assuming dilution of 600 million more shares and applying a price to earnings ratio of 18 on that and you have a share price of around $18 per share
I believe 1% number over 5 years is very conservative, imo
"Relief Therapeutics Discovers A Promising COVID-19 Killer" August 11, 2020