BLT market cap now $115m (at $1 per share). It has $50m cash so only $65m EV. Sure you can look at industry averages, and these are a good starting point.
BLT technology has been around for 10 years. More recently, academic papers have become quite supportive, which I believe increases that 15% to a much higher probability. Plus you now have some top US biotech funds buying shares. I have more than $100,000 on BLT and feel pretty comfortable that it's a better play than "red".
