Potential I see KDNY (Chinook Therapitics) are being bought by Novartis for $40 prr share ($3.5B) for their hest in class for rare and severe chronic kidney disease.
This certainly shines a light on Arch with their therapeutics for organ inflammation in Kidneys, Lungs & Liver.
The $40 share price is $20 above the pre-announced news. That suggests that Chinook had a $1.75B market cap pre-takeover offer.
Here we are at a similar stage with a $117M market cap suggesting we are extremely undervalued and one could suggest that if KDNY was taken out at $3.5B we sould be take out at a much higher mutliple/price.
I still cannot wrap my head around why we are at $1.88 per share. Some will suggest it because we are a Canadian Company on a very questionable exchange but I feel that the Raymond James call for data release is also a valud point. This company lacks in PR market communication in my opinion. The Raymond James Analyst expects updated I dependent data to be released in 1H/2023 so we should hopefully see something before the end of the month. Should the data/report be positive I believe RJ Analysts will be giving a big increase to target price and a strong buy rating.