When we talk about the sales volume we're expecting, I think we need to think about how much of it will be profit. I would suspect it will be somewhere between 30% and 50%. If we take the worst case 30% and we have $2 billion in sales, we'd be talking about $600 million in profits.
I believe that with the potential of both DCVax-Direct to expand to all sorts of solid cancers, and L to work in many solid cancers our P/E should be at what's at the top of the ordinary P/E range of 30, but could be substantially higher based on it's potential. If we use 30, that's an $18 billion market cap.
I believe this is conservative, I suspect that our profits will be higher, and I also believe that off label use of DCVax-L will grow rapidly as well as anecdotal evidence of efficacy grows, followed by trial data that confirms it. It won't be that long before sales of $5 billion a year or more are common, that could drive the market cap to $50 billion or more quite rapidly.
As to the market cap if multiple solid cancers were shown to benefit from both DCVax-L and Direct, we'd definitely be speaking of triple digit billions, and probably trillion dollar market caps in time. Of course this is based on the company remaining independent. Should it be acquired, I can only hope that the company buying NWBO is committed to advancing the science, not putting it on the shelf.
Gary
News 
Market Data 
Discover 
AI
