I found the article to be "thin soup" and wonder why the author even bothered. He doesn't seem to understand the business, provides links to EVOL materials to explain, does a DCF and concludes that the stock should be $9.30-$9.70 while using comparisons to companies whose earnings statements are nowhere near as "clean" as EVOL's and the author also uses a 7.5% growth rate?????
This is pretty convoluted, but the involvement of INSV "corrupts" any chance of my keeping my QLT stock. Their track record is one of destroying shareholder value and while the new venture (independent of INSV) sounds interesting, I am not a 5-10 year venture person. Happy to get the bounce and cash out.