| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| CPIX | RDHL | CORT | OCUL | ELAN | | PHAT | |
| NasdaqGS:CPIX | NasdaqCM:RDHL | NasdaqCM:CORT | NasdaqGM:OCUL | NYSE:ELAN | | NasdaqGS:PHAT | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 1.9% | -4.8% | 17.1% | 72.0% | 7.6% | | NM- | |
| 3Y CAGR | 1.7% | -53.4% | 22.6% | 13.6% | -2.3% | | NM- | |
| Latest Twelve Months | -4.3% | -89.6% | 39.9% | 9.0% | 0.5% | | 8001.5% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | -18.3% | -251.8% | 29.6% | -313.1% | 6.9% | | -7333.4% | |
| Prior Fiscal Year | -15.7% | -69.3% | 22.2% | -141.0% | 7.5% | | -24532.6% | |
| Latest Fiscal Year | -17.0% | -350.2% | 20.3% | -272.1% | 5.8% | | -502.2% | |
| Latest Twelve Months | -17.0% | -552.7% | 20.3% | -272.1% | 5.8% | | -502.2% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.66x | -0.86x | 8.04x | 14.18x | 2.07x | | 12.61x | |
| EV / LTM EBIT | -9.8x | 0.2x | 39.6x | -5.2x | 35.8x | | -2.5x | |
| Price / LTM Sales | 1.60x | 0.95x | 8.93x | 19.14x | 1.18x | | 7.95x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | -0.86x | 2.07x | 14.18x | | | | | |
| Historical EV / LTM Revenue | 12.61x | 12.61x | 12.61x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 13.71x | 14.43x | 15.15x | | | | | |
| (x) LTM Revenue | 55 | 55 | 55 | | | | | |
| (=) Implied Enterprise Value | 757 | 797 | 837 | | | | | |
| (-) Non-shareholder Claims * | (258) | (258) | (258) | | | | | |
| (=) Equity Value | 500 | 540 | 579 | | | | | |
| (/) Shares Outstanding | 68.4 | 68.4 | 68.4 | | | | | |
| Implied Value Range | 7.31 | 7.89 | 8.47 | | | | | |
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 7.31 | 7.89 | 8.47 | | 6.42 | | | |
| Upside / (Downside) | 13.8% | 22.9% | 32.0% | | | | | |