Boundless Bio, Inc.

AI-generated fair value estimate for this company.

Method: Risk-adjusted NPV (rNPV) of lead pipeline plus net cash: $500M assumed peak annual sales for lead ecDNA-targeted oncology candidate if approved; 3x peak-sales NPV multiple (full economic rights, no partner share); 8% probability of clinical/regulatory success from current Phase 1 stage; discounted 7 years to expected launch at a 12% rate; plus $72.63M current net cash; 22.75M shares outstanding.

Reasoning: Boundless Bio is a pre-revenue, Phase 1 clinical-stage oncology biotech, so a conventional FCF DCF is not meaningful; a probability-weighted (risk-adjusted) NPV of its lead extrachromosomal-DNA-targeted program plus its cash balance is the standard, more rigorous valuation approach for this stage of biotech, explicitly acknowledging the high binary clinical/regulatory risk in the low probability-of-success input.