I really think that if you look at other companies at the point of getting an approval decision you'll find that most have market caps in excess of $1 billion. Of course much depends on the potential of the product that's being approved, and where the approval is coming from, but $1 to $3 billion is not uncommon.
I'll grant that UK approval is not nearly as big as FDA, but GBM by itself is a good size target, and of course potentially all solid cancers is huge. We're clearly trading well below these levels which would indicate that the Street is not anticipating approval in the very near term. We'll see when it happens. It's not uncommon for the share price to run up prior to approval, and fall slightly on its occurrence, but eventually approvals lead to revenue and in time the share price becomes revenue based.
I certainly don't know of any specifics, but LP was clearly leading to other announcements coming after approval is established, I have no idea how quickly, but she certainly indicated the next 18 months should be exciting. I suspect that at least one major announcement beyond approval is planned for shortly after approval and is pinned to approval, no telling whether it's something that immediately generates money for the company, or adds cost, but whatever it is, I believe it will boost the share price further.
The question is really, does the Street have it right, and the share price moves up when they anticipate approval, or do they have it wrong and get surprised by the announcement from the UK. Personally I believe they have it wrong and are in for a surprise any day.
Gary
Bullish
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