| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| ALNY | SRPT | BMRN | ABUS | REGN | | MRNA | |
| NasdaqGS:ALNY | NasdaqGS:SRPT | NasdaqGS:BMRN | NasdaqGS:ABUS | NasdaqGS:REGN | | NasdaqGS:MRNA | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 59.2% | 37.9% | 10.9% | 0.5% | 16.7% | | 122.0% | |
| 3Y CAGR | 38.6% | 39.4% | 15.6% | -17.5% | -4.0% | | -44.0% | |
| Latest Twelve Months | 23.0% | 53.0% | 18.0% | -66.0% | 8.3% | | -52.7% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | -97.0% | -61.4% | 2.2% | -608.2% | 40.8% | | -90.6% | |
| Prior Fiscal Year | -15.4% | -21.5% | 7.7% | -430.2% | 32.3% | | -61.9% | |
| Latest Fiscal Year | -7.9% | 11.5% | 20.0% | -1194.2% | 29.2% | | -121.9% | |
| Latest Twelve Months | -7.9% | 11.5% | 20.0% | -1194.2% | 29.2% | | -121.9% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 14.75x | 3.08x | 4.18x | 89.10x | 3.60x | | 0.53x | |
| EV / LTM EBIT | -187.5x | 26.9x | 20.9x | -7.5x | 12.3x | | -0.4x | |
| Price / LTM Sales | 14.73x | 3.16x | 4.54x | 107.98x | 4.65x | | 3.24x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 3.08x | 4.18x | 89.10x | | | | | |
| Historical EV / LTM Revenue | 0.53x | 2.91x | 155.56x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 3.08x | 3.24x | 3.41x | | | | | |
| (x) LTM Revenue | 3,236 | 3,236 | 3,236 | | | | | |
| (=) Implied Enterprise Value | 9,970 | 10,495 | 11,019 | | | | | |
| (-) Non-shareholder Claims * | 8,786 | 8,786 | 8,786 | | | | | |
| (=) Equity Value | 18,756 | 19,281 | 19,805 | | | | | |
| (/) Shares Outstanding | 386.6 | 386.6 | 386.6 | | | | | |
| Implied Value Range | 48.51 | 49.87 | 51.23 | | | | | |
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 48.51 | 49.87 | 51.23 | | 27.16 | | | |
| Upside / (Downside) | 78.6% | 83.6% | 88.6% | | | | | |