Valuation shows substantial upside so, $31 million is about $40 million in CAD .
Annualized and assuming no further growth, that's bout $160 million per year .
MDP has only 20.5 m shares so its current market cap at $3 per share is about $60 m CAD.
The link below shows that currently , Pharmaceuticals like MDP trade at a market cap that is about 4 times annual sales.
This would place MDP proxy based fair value market cap at about $640 million CAD or better than $20 per share.
This is a coarse valuation but it also assumes no future growth which will obviously not be the case given its current and upcoming suite of drugs.
Investments like MDP ......strong growth, strong balance sheet and very few shares and brutally undervalued...do not come along very often.
Take advantage of these cheap prices or pay higher in the near future.
https://csimarket.com/Industry/industry_valuation_ttm.php?ps&ind=801