Jan. 30 at 10:03 PM
Year 4 & 10-Year revenue multiples of all commercial-stage non-oncology focused bios as of 1/30/26 (for those with analyst revenue estimates thru FY2034) with market caps of
$1.0B to
$5.5B.
$PHAT trades at the lowest Year 4 multiple because, among other reasons, its Voquezna patent expires in May 2032 where most (but not all like
$HRMY) peers on this list have longer IP runways.
$SLNO to us is a head scratcher after reporting roughly
$90MM in Q425 Vykat product sales. This was its 3rd full fiscal quarter on the market (outselling names like GWPH's Epidiolex & Verona's Ohtuvayre). SLNO's revenue multiple does not consider its cash at 25% of its market cap. It would be appreciated if anyone can comment on SLNO's risk v reward profile.
$ARDX did have an FY34 patent expiration for its API that was recently extended through FY2041.
$MIRM is the best performing stock in this peer group (since /2025.
This is not investment advice. We're simply sharing our analysis.
