CRNX - Chiasma's Valuation Should Be Higher Than $5-6/Share Now That Mycapssa Is FDA Approved
NOTE: MM = million
Our analysis concludes Chiasma, Inc.'s (CHMA) share price is materially undervalued primarily because, at $6/share or ~$300 million market cap, CHMA trades at only slightly more than estimated peak annual revenues (just in the United States, completely excluding the rest of the world) especially now that there is no longer any uncertainty around FDA approval. CHMA also trades at less than 50% of the market cap of Crinetics Pharmaceuticals, Inc. (CRNX). CRNX's flagship product in development is an oral treatment for acromegaly, just like CHMA, yet it appears CRNX's therapy won't