I certainly agree that the sort of market caps you're suggesting are achievable, but I'm uncertain if Europe, which doesn't include the UK, would be sufficient by itself to go that high.
Approval in the EU will enable the UK and Australia to piggyback off their work.
Widespread publicity will encourage the FDA to move.....if AVXL ever get around to filing with them.
So EU approval is not a detached, discrete event. It is an opening of the floodgates.
As for market estimates, the board has been loaded with them.