Figure 1 Call option and intrinsic value
Figure 2 Balance sheet and equity as call option
Figure 3 FY2008 net income and R&D expenses
Figure 4 2008 negative profits biotech companies’ net income and R&D expenses
Figure 5 Total stockholders’ equity and cash & equivalents
Figure 6 FY2016 R&D expenses and market cap
Figure 7 Shift of total stockholders’ equity between FY2008 and FY2016
Figure 8 Revenues and total stockholders’ equity
Figure 9 FY2016 trace-plot of intercept
Figure 10 FY2016 fit-summary of intercept
Figure 11 FY2016 trace-plot of slope
Figure 12 FY2016 fit-summary of slope
Figure 13 FY2008 trace-plot of intercept
Figure 15 FY2008 trace-plot of slope
Figure 16 FY2016 fit-summary of slope
Figure 14 FY2008 fit-summary of intercept
Table 1 Data of biotech companies
Table 2 Data of large pharmaceutical companies
Table 4 FY2008 print (fit)
Table 3 FY2016 print (fit)
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