Device Dude,

I think you would be right on the valuation if all cardium had was the gel.(excellagen) However they also have Generx in phase 3. They have Corgentin in pre-clinical (granted that's not worth much at this stage) and they also have Excellarate that was a success in phase 2 trials, it was much better than standard of care. Also excellagen is a platform for a host of other drugs. (That's where the real money is for a big pharma)

Because of everything they have going I think that .67 is low for this stock. I think back to dendreon (DNDN). As memory serves they had a market cap of 150-200M based on their drug provenge when it was in phase 3. Provenge can be used in a subset of men with prostate cancer, which is a nice group of people but not gigantic. DNDN now has a market cap of over a billion (again going on recall).

By no means am I saying that Cardium is worth the same as DNDN, but generx does have the same realistic potential that provenge had (if not better) and DNDN had a market cap almost 5X higher. (When I was invested in DNDN there were people that were very upset that DNDN only had 150-200M market cap while some other biotechs had a billion dollar market cap with nothing even in phase 3.) So I don't think it's unreasonable to have a market cap several times higher than it is now.

Of course what i think means a hill of beans as the stock price has continued to plummet as though the phase 2b results for excellerate were bad.

I am not a big fan of manipulation conspiracy theories, every small biotech has people screaming that the stock is being manipulated by so and so. But I do find the recent price decline to be really out of wack. I do believe, though, that things always come back to normal after time.

I'd like to hear your thoughts.