I think people forget a major issue in the comparisson between Pharming and GTCB.
In the USA there are many biotech companies to choose from, and in the Netherlands there are only a few.
I think USA has factor 20-50 more biotech at least. So there isnt much choice in the Netherlands and there is too much choice in the USA. Furthermore I believe that some underevaluate the possibilities of the potential from Pharmings pipeline. I dont think its less than GTC's . personally I believe the potential is even better. But that is offcourse purely a subjective feeling.
Again.. GTCB is imo way undervalued, but it is sad that too many investors wont accept that there are some factors out there that explain the differences in shareprice between GTC and Pharming and GTC and the low valuation of this company. ( people dont like the factor management, but imo, and this is also a personal opinion, management have made too many errors which in a market where there is plenty of choice to invest in (biotech), and where investors have seen a lot of decline in SP and a non PR like campaign hedgers and shorters take over easily.
I hope that this year GTC will see the 2 dollar range again.