Yahoo filters out more than most people realize. Not the spam and annoyances we hate, but meaningful, useful information that would enhance investor confidence and boost understanding of the whole approach by ISIS. In time, people will recognize Yahoo MBs as carefully censored and intentionally manipulated.
I agree in the $5-6B range, just am not sure how fast they will ramp up to that level. Certainly there are some that will try a cheaper approach and then go to Eteplirsen when the cheaper route fails, but there is such limited time for that failing approach.
The bigger question on valuation is the extension of this exon skipping approach and variations, and how they may be able to leverage this into other situations. The initial valuation will be good, but the strategic implications may be significantly more. So in the case of a buyout, we have to consider the immediate value, near term (2-5 years) value, and long term value (5-20 years).
Microsoft DOS was good, but the strategic value was far far more.
The Apple Macintosh was good, but the strategic value was far far more.
The Google search engine was good, but the strategic value was far far more.