re- "doing the math "https://www.equidam.com/ebitda-multiples-trbc-industries/
Personally I prefer to use:
Advanced Equipment and Technology multiple.... 20.99 (or if you prefer EV/EBITDA)
Spectral gives you the new EBITDA targets (note changes: # targeted patients, price/col, etc.)
Website better, but still conservative assumptions? (Increase in ICU Sepsis, Covid, only 2 col per treatment, possible wider label due to Eden and Euphas2, etc. ?)
I prefer to use the 40% penetration for my calc's, since there are no other FDA approved treatments desgned to remove endotoxins, no competing trials, etc.
Don't forget to include the Canadian population, and to convert SP to CAD$
Their newly provided EBITDA numbers, includes EAA's used with PMX, but seemingly not worldwide usage of EAA's for use in hospitals (once FDA provides golden seal of approaval on PMX) to look for Endotoxemia (triaging patients)
References to "exploring a dual listing on a Senior US Exchange" remains a long standing, oft repeated, joke.
US investors would gobble up a late stage (3b) confirmatory Trial with a $ 2B USD target market (for just one of the three main components of value). Meanwhile the struggling "competitor" CTSO has a MC of > 2X Spectral.