GREY:ICOTF - Post by User
Post by
stockgurukingon Nov 26, 2012 10:51am
244 Views
Post# 20643417
Still Undervalued...
Still Undervalued... At the beginning of 2012 ICO had two clinical stage assets: 007 and 008 (both in blockbuster markets) and had a market cap of >$9MM. Needless to say the company was undervalued.
*
Fast forward 10 months:
- 007 is in the LARGEST study of it's kind in North America with a partner (JDRF) that happens to be the single largest funder of Diabetes related research on the planet. Interim data from the study is weeks away.
- 008 is the lead candidate for Immune Therapeutics, a company that has a minimum value of $30MM before their go public event (this valuation gives zero value to anything within Immune and only takes into account what is publicly known about the merger with Epicept). The true NPV is and will be a lot higher. I'm hearing rumours that the Roth led raise will be much higher than what Immune's CEO has publicly stated.
*
We are now at a $35MM market cap with our closest comparable (NASDAQ: LPTN) sitting at a $63MM. LPath has greater visibility and exposure with their NASDAQ listing, but has placed a ceiling on the valuation after the deal with Pfizer. ICO is undervalued at $35MM and the company has a strong footprint in the US investment community - remember the largest shareholder in the company is NY based Special Situations Fund managed by Dr. David Sable. This is a well respected name that will bring a lot of visibility to the story going forward...as the market cap continues to grow.