Author: Josh Avram on April 16, 2008
CVTX just sold half of the rights to their new stress testing drug for a price that shows just how undervalued their stock is.
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Comments
Namwarki
April 16, 2008
Excellent analysis. I see this company at $30 in 12-18 months with high potential for a $50 buyout. The excellent science and ability to gain approval and negociate creative partnerships with high quality firms is very impressive. Patience will be rewarded here, in my opinion.
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pharmaking
April 18, 2008
I think Namwarki might be a little overoptimistic.
Still it is pretty easy to see that the stock remains very undervalued.
The company currently trades at a market cap of 530 million (after a pretty nice pop yesterday.) Lexiscan and adenoscan royalties in the US are worth arround 400 million- see my analysis above.
So you can buy the rest of the company for 1 time estimated 2008 Ranexa revenues. And you get thrown in for free the potential revenues from Ranexa and Lexiscan ex-US- and the whole pipeline.
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