Post by
Benedictus on Dec 01, 2021 1:38am
Question for longs
The recent update is extremely encouraging for the longs.
Quarterly cash burn also appears quite manageable and is not a near term concern.
The chart has also formed up nicely with much better money flow and RS.
All very positive signs!
I do have a couple of questions in terms of expectations going forward:
1) Has the company ever clarified if BTD and the possibility for accelerated approval specifically means 20 to 25 patients treated and who meet the Primary objective (CR) at 90 days?
2) From the investor slide deck, the estimated peak sale market opportunity is 1.1B annual by 2025 but this is based on an estimate from 2017 so this seems quite out of date (perhaps they should look to update this market analysis). The reason I mention this is in terms of trying to estimate a potential buyout offer if indeed this therapy proves successful as the NMIBC gold standard of care. Assuming 1x peak estimate of 1.1B and current outstanding fully diluted shares of 285M yields a possible price target in the 3.50 - 4 range. I'm curious if others are estimating a similar ballpark figure if indeed the Study continues to gather further positive momentum and BP decides they want the IP.
Cheers!