| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| CRIS | IMAB | XOMA | INMB | SPRO | | NGNE | |
| NasdaqCM:CRIS | NasdaqGM:IMAB | NasdaqGM:XOMA | NasdaqCM:INMB | NasdaqGS:SPRO | | NasdaqGM:NGNE | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | -0.8% | -13.0% | 9.2% | NM- | 92.1% | | NM- | |
| 3Y CAGR | -2.6% | -74.6% | -9.3% | -57.4% | 123.2% | | NM- | |
| Latest Twelve Months | 8.8% | 100.5% | 498.7% | -91.0% | -53.8% | | NM | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | -398.4% | -2388.4% | -185.3% | -58214.3% | -386.7% | | -8183.6% | |
| Prior Fiscal Year | -482.2% | 888.9% | -493.1% | -19187.7% | 25.8% | | NA | |
| Latest Fiscal Year | -408.3% | -4471.2% | -127.7% | -304535.7% | -151.1% | | -8930.3% | |
| Latest Twelve Months | -408.3% | -13745.4% | -127.7% | -304535.7% | -151.1% | | -8930.3% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 3.37x | -237.14x | 9.04x | 10849.85x | -0.12x | | -89.95x | |
| EV / LTM EBIT | -0.8x | 1.7x | -7.1x | -3.6x | 0.1x | | 1.0x | |
| Price / LTM Sales | 1.80x | 120.26x | 8.55x | 12316.85x | 0.89x | | 234.35x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | -237.14x | 3.37x | 10849.85x | | | | | |
| Historical EV / LTM Revenue | -89.95x | -89.95x | -89.95x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 8.37x | 8.82x | 9.26x | | | | | |
| (x) LTM Revenue | 1 | 1 | 1 | | | | | |
| (=) Implied Enterprise Value | 8 | 8 | 9 | | | | | |
| (-) Non-shareholder Claims * | 300 | 300 | 300 | | | | | |
| (=) Equity Value | 308 | 308 | 309 | | | | | |
| (/) Shares Outstanding | 14.9 | 14.9 | 14.9 | | | | | |
| Implied Value Range | 20.61 | 20.64 | 20.67 | | | | | |
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 20.61 | 20.64 | 20.67 | | 14.52 | | | |
| Upside / (Downside) | 42.0% | 42.1% | 42.3% | | | | | |