on the heels of corona, little known INO is soaring. LIttle peek through fund. shows recent rally has nothing to do with its fundamentals but based purely on sentiment. +1.0B valuation. Past few quarters, earned few million (less than 10 millon) revenue. Hard to fathom when it can possibly reach 1 B any time soon if ever possible. But trying to add some rationality to it, I just decided to consider some facts: it appeared to have received grant from CEPI, not sure how much is it. If it succeeds in FDA approval of its vaccine, how much revenue it could possibly garner. Right now looks like flu vaccine is at average 30$-40$ USA has 300,000,000 populaton. But there are also bigger competitirs like J&J and Gilead. Lets' say INO captures 10% of the market assuming rosy scenario where each of 300M population will buy a vaccine once a year and every upcoming year until virus subsides down. That translates to 300M X 10% = 3M ; 3M * 40$ = 1.2B$ a year. Is it possible?