Let's do a little math...and add in some speculation:
First let's assume, 205 MM shares O/S for the period under discussion herein, 132 gets the approval we're all expecting in January 2019 and the company begins shipping product almost immediately.
Let's further assume, we have revenues of $100 MM, $200 MM and $400 MM for 2019, 20 and 21. In 2021, we earn a 5% NAT profit, (after losing money in the prior two years as expenses exceed revenues and In 2022, we make a 10% NAT profit on revenues of $ 600MM.
Our per share profits would be something like:
2018---deficit
2019---deficit
2020---deficit
2021---$.10
2022---$.30
If we truly become a global multi-product biotech/ biopharma company by this time, in 2025, our revenues might approach $3 B and our NAT margin should be at least 25%. This would equate to per share profits of $3.64.
More significantly, from an analytical standpoint, it is the profit ramp that matters and, once we begin to show revenues, expenses can better be judged as well as bottom line net profits....and there exists the possibility for profits to double (or perhaps more) each year for a meaningfully long enough period of time to make IMMU a huge success.
Lots has to be done to get from here to there....but I submit this is the type of company that could well achieve these goals. |
