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Biotech / Medical : Nortran Pharmaceutical -NRT.V
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To: Paul S. who wrote (393)4/14/1998 8:35:00 PM
From: Wisee  Read Replies (3) of 1185
 
Paul,

We are trying to put a realistic value on Nortran.

We are relying on reports from Nesbitt Burns, and Ernst & Young that
reveal what a biotech company's market cap. should be after each stage of
clinical development.

This is where we think Nortran's market cap. should presently be:

(millions C$)
N/B E/Y
RSD921- Clinical Phase I $94 $99
RSD10xx- Pre-clinical $74 $78
RSD931- Pre-clinical $74 $78
TOTAL $242 $255

If we divide by the number of outstanding shares (approx. 33 million),

we derive a value/share of $7.33 $7.73

It's only a matter of time before the market realizes Nortran's
worth.

Wisee
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