I don't know what the market cap should be now. My expectation for this investment is for Peregrine to realize a valuation of at least $5-8 Billion. I don't care what the market cap is today, because I am not going to sell today. The same with Monday, Tuesday or Wednesday next week. I am happy to see the 5 day rise from $1,79 to $2.36.
The current pipeline and lack of a partner make $500-750 million a reasonable market cap for PPHM IMO. ICPT has an Asian partner and announced phase 2 liver data. They currently have a $8 billion market cap. But they got Cowen in at low levels. I'm hoping whoever bought this week is similar to SAC capital so they can pump this baby up. So, considering we doubled OS in our phase 2 anything between $500 million and $8billion seems like a reasonably good range. ;-)
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