Aug. 23 at 5:47 PM
$SLS I was bored, so I entered all the data points around SLS' products in development, clinical stage, vouchers, cash on hand, warrants, quarterly burn, etc. and asked ChatGPT5 to give me a fair market cap valuation for the company. I posed it as a hypothetical and did not ask specifically for SLS. Here is what it came back with.
Putting It Together
• Lead asset risk-adjusted value: ~
$2.0–2.5B
• Second asset: ~
$0.4–0.5B
• PRVs + Cash: ~
$0.3B
• Total rNPV / EV range:
$2.7B –
$3.3B
• Market Cap (NASDQ, pre-approval discount): Historically, public markets discount heavy until approval → often ~30–40% of rNPV until topline data.
👉 Fair Market Cap Today (2025 pre-data):
$900M –
$1.3B
👉 Fair Value Post-positive P3 readout: Could rerate quickly to
$2.5B+
SLS should be trading at between 5.00 - 8.00 today, where it stands with no data, just based on all the factors we know. Positive data readout and we should run to 13.00 +/-.
