Peer Based Proxy Valuation.. $10 + CAD per shareEV = M Cap + debt - Cash =$25 m cad
Ebitda = $4.1 m US x 4 X 1.25 = $20 million cad
Ev to Ebitda valuation Multiple
14.40 for Biotech
14.32 for Pharm
Average is 14.36 times
So we have fair value EV of 14.36 X $20 m cad = $285 million CAD
To this we add the $20 m CAD in Cash and fair value Market cap = $305 m CAD
And $305 m CAD divided by 27 m shares $11.25 per share