Jul. 4 at 3:23 PM
$DAWN Shares Outstanding: ~101 million (latest SEC filing and financial sources).
Cash Position: ~
$473 million (Q1 2025, as previously stated).
Revenue (2025E):
$122 million (annualized from Q1 2025).
Peak Sales Potential:
$750 million (OJEMDA, consensus estimate).
Gross Margin: ~90% (specialty pharma, confirmed by low COGS).
EBITDA Margin at Peak: 30% (specialty/rare disease pharma average).
Discount Rate (WACC): 10% (reflects sector risk).
Terminal Growth Rate: 2%.
Tax Rate: 15% (orphan drug incentives, then normalizing).
No debt.