My point is that other therapies than Ceplene are not given a value in todays share price. I assume a 30% royalty if the deal has a fresh money point. If it is more backwards the deal might be around 20-30% royalty and bigger amounts for the milestones to come from not yet achieved results. The upfront, same logic as above.
What we see is a metamorpho...from stone to a living bird. I am in after july -08. You seems bitter. Nothing for a man in your age. Rise.
My proposal is to give the 30% royalty minus the average losses the last 5 years (appr. 360-60=300 million SEK)a 5 times value of the 300 000 000 SEK. Seen as p/e-ratio you might see it in differentways depending on what dilution / share oprice you are setting up.
So when I say 5 times cashflow or using my figures for calculating a p/e-ratio we have a climb of 3 times todays share price. To that I suggest that a value, when cashflow is supporting the Co, on "rest"-Epicept will, maybe move the share price some 10 SEK further. That is after releases from the different therapies.
Epicept is a unique Co having so many advanced patents not yet diluted by any big Ph.
My children just went to bed. Sorry for the longer answer, that went away by mistake. Pressed wrong buttom. The figures might be hard to follow, the post was not ready yet. For those of you who are interested, read my writings, see above, in Sweden and use the translation tool in Google.