$ARDX

$ARDX Many sleeping on this. Take the time to understand & load the boat AFTER court decision: ✅ Math check on the @Night_Owl_Biotech ARDX NPV post: The 25% NPV of $6.92 is accurate. They applied end-of-year discounting (the “Mid-Year Factor” row is just the period number t). EPS figures × 1/(1.25)^t for t=1–9 sum to exactly ~$6.92 after normal rounding. Clean. At 12.5% (peer-typical rate), I get ~$12.13 using the same 9 years/end-of-year. Extending to a full 10-year view (outer year flat at $4.09) gives $13.45. Mid-year convention pushes it to ~$14.3. His $13.84 lands right in the middle -solid and consistent within normal variance on exact consensus numbers or slight growth assumptions. FCF vs EPS note is fair and conservative. The $0.20–$0.30 uplift would add another ~