Intrinsic value of Nabriva Therapeutics ADR - NBRV

Previous Close

$8.83

  Intrinsic Value

$0.91

stock screener

  Rating & Target

str. sell

-90%

  Value-price divergence*

0%

Previous close

$8.83

 
Intrinsic value

$0.91

 
Up/down potential

-90%

 
Rating

str. sell

 
Value-price divergence*

0%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of NBRV stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  50.00
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  6
  10
  15
  22
  32
  45
  62
  84
  110
  142
  179
  222
  271
  327
  389
  458
  533
  613
  700
  793
  892
  996
  1,106
  1,221
  1,341
  1,467
  1,599
  1,735
  1,878
  2,026
  2,179
Variable operating expenses, $m
 
  77
  119
  177
  257
  363
  499
  670
  880
  1,133
  1,431
  1,776
  2,172
  2,618
  3,115
  3,662
  4,260
  4,907
  5,603
  6,345
  7,134
  7,968
  8,846
  9,767
  10,732
  11,739
  12,790
  13,884
  15,022
  16,205
  17,435
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  62
  77
  119
  177
  257
  363
  499
  670
  880
  1,133
  1,431
  1,776
  2,172
  2,618
  3,115
  3,662
  4,260
  4,907
  5,603
  6,345
  7,134
  7,968
  8,846
  9,767
  10,732
  11,739
  12,790
  13,884
  15,022
  16,205
  17,435
Operating income, $m
  -55
  -67
  -104
  -155
  -225
  -318
  -437
  -587
  -770
  -991
  -1,252
  -1,554
  -1,900
  -2,291
  -2,725
  -3,204
  -3,728
  -4,294
  -4,902
  -5,552
  -6,242
  -6,972
  -7,740
  -8,546
  -9,390
  -10,272
  -11,191
  -12,148
  -13,144
  -14,180
  -15,256
EBITDA, $m
  -55
  -67
  -104
  -155
  -225
  -318
  -437
  -587
  -770
  -991
  -1,252
  -1,554
  -1,900
  -2,291
  -2,725
  -3,204
  -3,728
  -4,294
  -4,902
  -5,552
  -6,242
  -6,972
  -7,740
  -8,546
  -9,390
  -10,272
  -11,191
  -12,148
  -13,144
  -14,180
  -15,256
Interest expense (income), $m
  0
  0
  0
  1
  1
  2
  3
  5
  6
  9
  11
  14
  18
  22
  27
  32
  38
  44
  51
  58
  66
  74
  83
  92
  102
  112
  123
  134
  145
  157
  170
Earnings before tax, $m
  -56
  -67
  -104
  -156
  -227
  -320
  -440
  -591
  -777
  -1,000
  -1,263
  -1,569
  -1,918
  -2,313
  -2,752
  -3,237
  -3,765
  -4,338
  -4,953
  -5,611
  -6,308
  -7,046
  -7,823
  -8,639
  -9,492
  -10,384
  -11,314
  -12,282
  -13,289
  -14,337
  -15,425
Tax expense, $m
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -55
  -67
  -104
  -156
  -227
  -320
  -440
  -591
  -777
  -1,000
  -1,263
  -1,569
  -1,918
  -2,313
  -2,752
  -3,237
  -3,765
  -4,338
  -4,953
  -5,611
  -6,308
  -7,046
  -7,823
  -8,639
  -9,492
  -10,384
  -11,314
  -12,282
  -13,289
  -14,337
  -15,425

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  84
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  93
  26
  40
  59
  86
  121
  166
  223
  293
  378
  477
  592
  724
  873
  1,038
  1,221
  1,420
  1,636
  1,868
  2,115
  2,378
  2,656
  2,949
  3,256
  3,577
  3,913
  4,263
  4,628
  5,007
  5,402
  5,812
Adjusted assets (=assets-cash), $m
  9
  26
  40
  59
  86
  121
  166
  223
  293
  378
  477
  592
  724
  873
  1,038
  1,221
  1,420
  1,636
  1,868
  2,115
  2,378
  2,656
  2,949
  3,256
  3,577
  3,913
  4,263
  4,628
  5,007
  5,402
  5,812
Revenue / Adjusted assets
  0.667
  0.385
  0.375
  0.373
  0.372
  0.372
  0.373
  0.377
  0.375
  0.376
  0.375
  0.375
  0.374
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
Average production assets, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Working capital, $m
  75
  -1
  -1
  -2
  -3
  -5
  -6
  -8
  -11
  -14
  -18
  -22
  -27
  -33
  -39
  -46
  -53
  -61
  -70
  -79
  -89
  -100
  -111
  -122
  -134
  -147
  -160
  -174
  -188
  -203
  -218
Total debt, $m
  0
  7
  20
  37
  61
  93
  134
  185
  248
  324
  413
  517
  636
  769
  918
  1,083
  1,262
  1,456
  1,665
  1,888
  2,124
  2,374
  2,638
  2,914
  3,204
  3,506
  3,821
  4,149
  4,491
  4,846
  5,215
Total liabilities, $m
  16
  23
  36
  53
  77
  109
  150
  201
  264
  340
  429
  533
  652
  785
  934
  1,099
  1,278
  1,472
  1,681
  1,904
  2,140
  2,390
  2,654
  2,930
  3,220
  3,522
  3,837
  4,165
  4,507
  4,862
  5,231
Total equity, $m
  77
  3
  4
  6
  9
  12
  17
  22
  29
  38
  48
  59
  72
  87
  104
  122
  142
  164
  187
  212
  238
  266
  295
  326
  358
  391
  426
  463
  501
  540
  581
Total liabilities and equity, $m
  93
  26
  40
  59
  86
  121
  167
  223
  293
  378
  477
  592
  724
  872
  1,038
  1,221
  1,420
  1,636
  1,868
  2,116
  2,378
  2,656
  2,949
  3,256
  3,578
  3,913
  4,263
  4,628
  5,008
  5,402
  5,812
Debt-to-equity ratio
  0.000
  2.750
  4.950
  6.300
  7.140
  7.680
  8.040
  8.280
  8.450
  8.580
  8.660
  8.730
  8.780
  8.820
  8.850
  8.870
  8.890
  8.900
  8.910
  8.920
  8.930
  8.940
  8.950
  8.950
  8.960
  8.960
  8.960
  8.970
  8.970
  8.970
  8.970
Adjusted equity ratio
  -0.778
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -55
  -67
  -104
  -156
  -227
  -320
  -440
  -591
  -777
  -1,000
  -1,263
  -1,569
  -1,918
  -2,313
  -2,752
  -3,237
  -3,765
  -4,338
  -4,953
  -5,611
  -6,308
  -7,046
  -7,823
  -8,639
  -9,492
  -10,384
  -11,314
  -12,282
  -13,289
  -14,337
  -15,425
Depreciation, amort., depletion, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Funds from operations, $m
  -45
  -67
  -104
  -156
  -227
  -320
  -440
  -591
  -777
  -1,000
  -1,263
  -1,569
  -1,918
  -2,313
  -2,752
  -3,237
  -3,765
  -4,338
  -4,953
  -5,611
  -6,308
  -7,046
  -7,823
  -8,639
  -9,492
  -10,384
  -11,314
  -12,282
  -13,289
  -14,337
  -15,425
Change in working capital, $m
  4
  0
  -1
  -1
  -1
  -1
  -2
  -2
  -3
  -3
  -4
  -4
  -5
  -6
  -6
  -7
  -7
  -8
  -9
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -15
Cash from operations, $m
  -49
  -67
  -104
  -155
  -226
  -319
  -439
  -589
  -774
  -997
  -1,259
  -1,564
  -1,914
  -2,307
  -2,746
  -3,230
  -3,758
  -4,330
  -4,945
  -5,601
  -6,299
  -7,036
  -7,812
  -8,627
  -9,480
  -10,371
  -11,300
  -12,268
  -13,275
  -14,322
  -15,410
Maintenance CAPEX, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
New CAPEX, $m
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from investing activities, $m
  23
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Free cash flow, $m
  -26
  -67
  -104
  -155
  -226
  -319
  -439
  -589
  -774
  -997
  -1,259
  -1,564
  -1,914
  -2,307
  -2,746
  -3,230
  -3,758
  -4,330
  -4,945
  -5,601
  -6,299
  -7,036
  -7,812
  -8,627
  -9,480
  -10,371
  -11,300
  -12,268
  -13,275
  -14,322
  -15,410
Issuance/(repayment) of debt, $m
  0
  7
  13
  18
  24
  32
  41
  51
  63
  76
  89
  104
  119
  134
  149
  164
  179
  194
  209
  223
  237
  250
  263
  276
  289
  302
  315
  328
  341
  355
  369
Issuance/(repurchase) of shares, $m
  0
  70
  105
  158
  229
  324
  445
  597
  784
  1,008
  1,273
  1,580
  1,932
  2,328
  2,769
  3,255
  3,785
  4,360
  4,977
  5,635
  6,335
  7,074
  7,852
  8,669
  9,524
  10,417
  11,349
  12,318
  13,327
  14,376
  15,466
Cash from financing (excl. dividends), $m  
  22
  77
  118
  176
  253
  356
  486
  648
  847
  1,084
  1,362
  1,684
  2,051
  2,462
  2,918
  3,419
  3,964
  4,554
  5,186
  5,858
  6,572
  7,324
  8,115
  8,945
  9,813
  10,719
  11,664
  12,646
  13,668
  14,731
  15,835
Total cash flow (excl. dividends), $m
  -4
  10
  14
  20
  28
  37
  47
  59
  73
  87
  103
  120
  137
  154
  172
  189
  207
  224
  241
  257
  273
  288
  304
  319
  334
  348
  363
  378
  394
  409
  425
Retained Cash Flow (-), $m
  32
  -70
  -105
  -158
  -229
  -324
  -445
  -597
  -784
  -1,008
  -1,273
  -1,580
  -1,932
  -2,328
  -2,769
  -3,255
  -3,785
  -4,360
  -4,977
  -5,635
  -6,335
  -7,074
  -7,852
  -8,669
  -9,524
  -10,417
  -11,349
  -12,318
  -13,327
  -14,376
  -15,466
Prev. year cash balance distribution, $m
 
  77
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  17
  -91
  -138
  -202
  -287
  -398
  -538
  -711
  -921
  -1,170
  -1,461
  -1,795
  -2,173
  -2,597
  -3,066
  -3,579
  -4,136
  -4,736
  -5,378
  -6,062
  -6,786
  -7,549
  -8,351
  -9,191
  -10,069
  -10,985
  -11,940
  -12,934
  -13,967
  -15,041
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  16
  -83
  -120
  -166
  -222
  -289
  -363
  -444
  -529
  -613
  -694
  -766
  -826
  -872
  -900
  -909
  -900
  -872
  -828
  -770
  -702
  -626
  -547
  -468
  -392
  -320
  -256
  -200
  -152
  -113
Current shareholders' claim on cash, %
  100
  50.0
  2.8
  0.2
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Nabriva Therapeutics AG, a clinical stage biopharmaceutical company, engages in the research and development of anti-infective agents to treat infections in humans. The company focuses on the pleuromutilin class of antibiotics. Its lead product candidate is lefamulin, which has completed a Phase II clinical trial for acute bacterial skin and skin structure infections. The company is developing intravenous and oral formulations of lefamulin for the treatment of community-acquired bacterial pneumonia; and intends to develop lefamulin for additional indications other than pneumonia. It is also developing BC-7013, a topical pleuromutilin product candidate, which has completed a Phase 1 clinical trial. The company was formerly known as Nabriva Therapeutics Forschungs GmbH and changed its name to Nabriva Therapeutics AG in 2007. Nabriva Therapeutics AG was incorporated in 2005 and is headquartered in Vienna, Austria.

FINANCIAL RATIOS  of  Nabriva Therapeutics ADR (NBRV)

Valuation Ratios
P/E Ratio -0.4
Price to Sales 4
Price to Book 0.3
Price to Tangible Book
Price to Cash Flow -0.5
Price to Free Cash Flow -0.5
Growth Rates
Sales Growth Rate 50%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -52.1%
Ret/ On Assets - 3 Yr. Avg. -129.2%
Return On Total Capital -59.1%
Ret/ On T. Cap. - 3 Yr. Avg. -515.1%
Return On Equity -59.1%
Return On Equity - 3 Yr. Avg. -42.6%
Asset Turnover 0.1
Profitability Ratios
Gross Margin -500%
Gross Margin - 3 Yr. Avg. -241.7%
EBITDA Margin -933.3%
EBITDA Margin - 3 Yr. Avg. -911.1%
Operating Margin -933.3%
Oper. Margin - 3 Yr. Avg. -727.8%
Pre-Tax Margin -933.3%
Pre-Tax Margin - 3 Yr. Avg. -936.1%
Net Profit Margin -916.7%
Net Profit Margin - 3 Yr. Avg. -930.6%
Effective Tax Rate 1.8%
Eff/ Tax Rate - 3 Yr. Avg. 0.6%
Payout Ratio 0%

NBRV stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NBRV stock intrinsic value calculation we used $6 million for the last fiscal year's total revenue generated by Nabriva Therapeutics ADR. The default revenue input number comes from 2016 income statement of Nabriva Therapeutics ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our NBRV stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for NBRV is calculated based on our internal credit rating of Nabriva Therapeutics ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Nabriva Therapeutics ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of NBRV stock the variable cost ratio is equal to 800%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for NBRV stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Nabriva Therapeutics ADR.

Corporate tax rate of 27% is the nominal tax rate for Nabriva Therapeutics ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the NBRV stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for NBRV are equal to 0%.

Life of production assets of 10 years is the average useful life of capital assets used in Nabriva Therapeutics ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for NBRV is equal to -10%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $77 million for Nabriva Therapeutics ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 21.249 million for Nabriva Therapeutics ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Nabriva Therapeutics ADR at the current share price and the inputted number of shares is $0.2 billion.

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COMPANY NEWS

▶ A growing threat could kill 10 million people a year by 2050   [Feb-23-17 05:12PM  Business Insider]
▶ BIOLASE Inc (BIOL): How It Stacks Up Against Its Peers   [Dec-13-16 06:24AM  at Insider Monkey]
▶ Nabriva Announces Terms of Rights Offering   [Nov-29-16 04:00PM  GlobeNewswire]
▶ Nabriva Presents Research on Lefamulin at IDWeek 2016   [Oct-31-16 07:00AM  GlobeNewswire]
▶ Nabriva Announces Presentations at Upcoming IDWeek 2016   [Oct-20-16 07:00AM  GlobeNewswire]
▶ Nabriva Reports Second Quarter 2016 Financial Results   [Aug-09-16 07:00AM  GlobeNewswire]
▶ Nabriva to Present at the UBS Global Healthcare Conference   [May-11-16 07:00AM  GlobeNewswire]
▶ Nabriva Reports First Quarter 2016 Financial Results   [May-10-16 07:00AM  GlobeNewswire]
▶ Nabriva Appoints Gary Sender as Chief Financial Officer   [May-02-16 07:00AM  GlobeNewswire]
▶ [$$] Iterum Therapeutics Secures $40M Series A, Licenses Anti-Infective Drug   [Mar-28-16 09:07AM  at The Wall Street Journal]
▶ Do Hedge Funds Love Lawson Products, Inc. (LAWS)?   [Nov-27  09:42AM  at Insider Monkey]
▶ Good or bad, this IPO could say a lot about the biotech boom   [Oct-07  10:17AM  at bizjournals.com]
▶ IPO Calendar Shows 3 Offerings on Tap for the Coming Week   [Sep-20  09:38AM  at 24/7 Wall St.]
▶ Nabriva Therapeutics Prices Initial Public Offering   [Sep-17  10:19PM  GlobeNewswire]
▶ IPO Stock Watch: Regenxbio Jumps On First Trading Day   [04:20PM  at Investor's Business Daily]
▶ Regenxbio Turns In Strong, Upsized IPO Performance   [Sep-16  06:22PM  at Investor's Business Daily]
Stock chart of NBRV Financial statements of NBRV
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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