ckpt....did some long over-due diligence
1) keytruda had $25b us sales (#1 competitor)
2) Merck had $60b revenue and mkt cap is 322.99b (keytruda company, keytruda 43% of merck revenue)
3) Merck is basically just over 5x revenue multiplier (which my understanding is low for a pharm Co)
4) idk their "profit" multiplier as I can't figure that out. 10-k doesnt break down by product, general claim of 73-77%
5) ckpt has 56m mkt cap. 35m shares (saturday am 5/4)
6) cosibelimab is advertised/projected as potential lead of class
7) if cosi took just 5% of keytruda market (not even total P1 mkt, just keytruda share) that would be 1.25b (.05 x $25b)
8) a 4x revenue multiplier would be 5b
9) 5b ÷ 35m shares = $142 share
10) I can't find any recent articles/info on projected annual revenue for cosi if approved. Articles in past, 2-3+ yrs ago, projected $300m; ckpt company in 2023 projected 1.6b annual. I can't explain the difference [if 300m, 4x multiplier=1.2b. ÷35m shares= $34/share]
I must be missing something
Idk
welcome any thoughts...