Honestabe, You wrote that a run up in pps without revenue would be like a dot com. I don't see it that way. Biotech companies that have a mission like PPHM's don't fit that profile. These companies need money to move candidate products through trials. They get to a certain point, where trial results are indicating sucess, failure or need for more research. These companies need more money to proceed, so net revenues are sparse. PPHM is an exception because it has a licensed mabufacturing facility that is generating more revenue than PPHM needs to run the Avid shop.
What drives the "pay off" that leads to the increased market capitalization that you suggest ($1/2 billion, a billion, 2 billion etc.)? What is realistic translates to what can PPHM develop with its proprietary technology that increases share holder value. That can mean more Avid revenue. It can mean PPHM products demonstrate they are outperforming standard of care and are on track for approval.
If PPHM has products that can be part of the answer to a swine flue treatment or vaccine, effective treatment against HIV or HCV, increased progression free survival or complete responses for cancer patients etc., share holder value potential ramps up to a higher level.
We shall see how far things proceed, but consider that Imclone and Erbitux established $7 billion in market capitalization while prospective treatment applications were much less than what PPHM has under formation. An influx of funding to progress trials from an interested large pharma breaks the holding pattern wide open.
Best wishes and IMO.
KT