Actually, if GALT can avoid major dilution (perhaps by partnering another indication, like lung fibrosis), then $30 is just a start. Fatty liver alone would be a $1B+ revenue opportunity, so the company's value would be some multiple of that. As we sit right now, the fully diluted market cap is about $370M (17M common shares outstanding plus another 13M of warrants/options/convertible preferred), so $30 per share is roughly a $1B market cap. If we get proof of concept in fatty liver before the next capital raise, then look out above!
I think we just heard that 3.0 mil is coming from the 10x over the next year and that should get us to an endpoint. Sorry 2.1 mil left since they just put in 900K. So I think there is a clear pathway to a Phase I result that shows safety beyond any doubt and biomarkers of efficacy. This is as soon as Q1 2014. that Phase 1 efficacy will clearly get it to a 1B+ valuation. Remember they are working on 10 drug partners right now signing NDA's etc. and working out deal points. There are 3 cohorts and you could have a deal after results of the first cohort. In the first cohort patients are almost in the therapeutic range of the drug. So now put yourself in the shoes of the company and you are at a Billion valuation and the drug company offers you a deal of lets say 3 Billion. Do you take it? Well at that stage probably not. Now the stock runs to the new valuation target do a quick 100 mil raise - now you have funds for cancer and fibrosis to an approval. What do you need a drug company partner for. Then the next offer is the present discounted value of the drug which could be in the 10s of Billions. so the next 2 years should be an amazing ride higher.