– Pre-clinical biotech at a 50% discount to its cash balance.
– Baby thrown out with the bathwater in biotech sell-off – down 80% since its $16/shr IPO at the end of 2021.
– Priced as if R&D will only destroy value – all programs are very early stage, so that is an overly exaggerated assumption.
– Very experienced management – led by former $PFE exec.
– Worth a double if traded up to cash balance.
– Pipeline value after taking into account significant potential dilution (4x share count) and adding the remaining cash balance, sums up to $26/share.
Exp. gain: +100% upside to the current cash balance. Multibagger upside on pipeline valuation.
Full $PYXS write-up (free guest account required):