The market for phosphate binders to treat hyperphosphatemia in ESRD patients is around $1.5 billion worldwide.
Zerenex didn't just met primary but also secondary endpoints and can become the first phospate binder to make it to the marklet in the US for pre-dialysis or CKD chronic kidney disease
After today results, Zerenex have the potential to replace the current dialyis market leader, Renvela, that have sales of 700-800 Million/Year.
So let's be conservative forget about pre-dialysis market, predict only 600 Million per year in Zerenex sales and a profit of 200 Million...considering the current 71 Million outstanding shares we have about $2.80 profit per share.
$2.80 x 15 P/E (again conservative) = $42 a share.
Do you understand now why we traded 67 Million shares today?
Longs relax and let shorties play among themselves with the current ridiculous pps... because phase 3 results don't lie... ;)
If phase 2 about pre-dialysis are decent then we could have andditional profit in a 5-6 Billion dollar market... :)
To the uninformed day trader these pps claims might sound outlandish. But it has happened before. Look at the other dialysis drug maker amgen and the history of that stock and you will understand that although rare these kinds of moves happen. We are that needle in the haystack. Now all we have to do is wait for the rest of Wall St. to wake up. Usually takes them a few days to a month, but eventually the bulb goes off.