Snap - this had been an absolute dog of a share. Put about 30k in myself. fortunately im in IMM from 2p but FUM has been a disaster. May as well just leave them and see if anything comes back now
As we keep getting the potential mcap talked down. just for a bit of comparison.
avacta - couple of candidates in phase 1-2 - no deals - mcap £250 million ish
Analyst report - id have to dig it back out - on how to value small scale pharma and biopharma - for a company with a candidate in phase 3 the median (median not mean so this stops the big players totally skewing the numbers) valuation based on a survey of 1600 companies was $900 million (although i think the 1600 companies covered all development stages and the phase 3 pool was something like 300 co's)
Companies sometimes trade below NAV e.g if that NAV is made up in uncrystallised assets or illiquid holding - they rarely trade significantly below cash unless they have a high cash burn. a decent deal that far outstrips years of potential cash burn plus some future milestone targets would have this at a premium to cash