Microbix Biosystems Inc. T.MBX

Bloom Burton update $0.80 tp

[lscfa]

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[lscfa]

2024 revenue $25.2M....2024 ebitda $4.7M

[wizzdumb]

Can someone post link to report please. 

[Mbxwatcher]

https://microbix.com/wp-content/Microbix%20QR_1%202024%20v3B%20FINAL%20PRINT.pdf

[Mbxwatcher]

sorry realized afterwards thats not what you were looking for. Love to see it as well if anyone has it.

[yielddude]

this on yahoo, matches .80, but doesn't say who ... ? Down towards bottom ... https://finance.yahoo.com/quote/MBX.TO?.tsrc=fin-srch https://finance.yahoo.com/quote/MBX.TO/analysis

[RICHOFFMBX]

Here it is: https://www.bloomburton.com/research/MBX20240215.pdf

[RICHOFFMBX]

Note in their analysis that Kinlytic is not factored into TP.

[wizzdumb]

Yes, I'd say it's a reasonable but conservative analysis of their core business but key is it does not factor in Kinlytic. So basically today you're getting the core business at half of conservative valuation and an option on Kinlytic, a massive opportunity that one the worlds largest healthcare private equity firms is spending $50M on pre revenue and that has little to no clinical

[mercedesman]

That's what is most amazing to me.  the Target Price is basically a double from here with nothing factored in for future Kinlytic royalties which are expected to be $15m to $25m USD annually a few years after launch ! Imagine what the discounted value of that very high margin stream of cash is worth in Market Cap ?  10X at least but to be conservative discount that by 1/2 in

[wizzdumb]

Yeah and for fun add in Europe which is a no brainer for CC indication only which will come with the same milestone payments and royalties as the US and likely launch either in parallel or soon after due to regulator pull. Then if you really want to blow your mind add in multiple other much larger opportunities for other Kinlytic indications globally. Warning - not for the faint of heart lol. 

[lscfa]

Using Sequel forecasts....       Sequel sales Royalties 10% Milestone payments PV @ 20% PV @ 15% PV @ 10% 0         &

[wizzdumb]

Where are you getting $30M sales milestone payment schedule and royalty percentage? As far as I know those are not released. 

[lscfa]

Milestone payment timing is my asumption.  KRC assumed 10% royalty and milestones starting in 2029 and he is paid by MBX to create report so probably has input from co.