I really don't think you could even have the discussion based on typical valuations. Didn't anyone else see that Gilead paid $11B for Pharmasset several months ago. Pharmaset had no revenue and a potential blockbust Hep C drug...with a smaller market than Afrezza.

You see where I'm going? Biotech is really tough to gauge. It is all risk reward. I'd take no less than $10B for a buyout right now which only increases as we get closer to FDA approval.