May. 8 at 5:07 PM
$TARS fully diluted market cap & enterprise value using TARS 3/31/26 cap table @
$60.87 per share.
The 2nd attachment compares TARS' valuation related data points to 7 peers acquired 25-91 months post FDA approval (34 months for TARS). Note these TARS hypothetical peers were acquired for 0.86-0.93X 5-year revenues (some higher) and/or 0.31-0.37X 10-year revenue forecasts.
If TARS analyst consensus revenue ests are credible AND if TARS were hypothetically acquired for 0.88X 5-year revenues and/or 0.32 10-year (2 HUGE IFs), TARS hypothetical M&A EV would be ~
$4.3-
$4.5B or, with
$300MM net cash/debt, ~
$4.6-
$4.8B in market cap. With just under 50MM fully diluted shares o/s this would be
$92-
$96 per share.
We're merely sharing "what-if" analysis using TARS 3/31/26 cap table & analyst consensus. This is not investment advice because we have no idea what TARS might be worth in a M&A exit.
We're curious if investors believe a hypothetical TARS M&A multiple would be higher or lower
$XBI $IBBQ
