Mar. 12 at 4:52 PM
$TBPH I am bullish on today's earnings report, odd as that might seem. My logic is this. The key is the operational restructuring after the failed trial, their only trial. If one applies the operational plan to the actual operating numbers, and recognizes the costs of restructuring, then the fair value of the company is about
$21 on a continuing basis (+50%). In addition, the Board committee for shareholder value has been recharged into prompt action. Translation: let's sell the company. Doing the math, I see a sale value of about
$27 per share (+100%). Selling the company should not be difficult because the balance sheet is strong, and the time horizon on the COPD product remains durable. I believe this will be made clear in the earnings report. I too am awaiting some detailed numbers from the ER. However, the analysts have said little to nothing so far. Once they run the numbers after the ER, they will revise their outlook, and be pumping the sale value. JMO
