NASDAQ: ACRX - AcelRx Pharmaceuticals, Inc.

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = -0.0036
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.13 + (1.13 * 8.66% / 100) = 1.23

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = -0.007
Ebitda Yield = -0.1612
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0.000134
Debt = 0.0104
Market Cap = 0.012
Weight Debt = Market Cap / (Market Cap + Debt) = 0.012 / (0.012 + 0.0104) = 0.5357
Weight Cost Debt = 100% - 0.5357 = 0.4643
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.82
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0 * 5.94 + 0 = 0.0282
WACC = (0.000134 / 0.0104) * (100% - 0.5357) * (1 - 0.21) + 0.0282 + 0.5357 = 1.03
Terminal Value = Discount (-0.007 * (1 + -0.1612) / (1.03 - -0.1612)) = -0.0326
Company Value = ∑ (-0.007 / (1 + 1.03) ^ 5) = -0.05
Price = (Terminal Value + Company Value) / Count shares = (-0.0326 + -0.05) / 2852750000 = -0.029

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = -0.0073
FCF Yield = -0.1623
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0.000134
Debt = 0.0104
Market Cap = 0.012
Weight Debt = Market Cap / (Market Cap + Debt) = 0.012 / (0.012 + 0.0104) = 0.5357
Weight Cost Debt = 100% - 0.5357 = 0.4643
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.82
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0 * 5.94 + 0 = 0.0282
WACC = (0.000134 / 0.0104) * (100% - 0.5357) * (1 - 0.21) + 0.0282 + 0.5357 = 1.03
Terminal Value = Discount (-0.0073 * (1 + -0.1623) / (1.03 - -0.1623)) = -0.0335
Company Value = ∑ (-0.0073 / (1 + 1.03) ^ 5) = -0.0519
Price = (Terminal Value + Company Value) / Count shares = (-0.0335 + -0.0519) / 2852750000 = -0.0299