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This company uses biotechnology to improve the taste of packaged foods and beverages. Large food and beverage companies license its technology (e.g., bitter blockers, etc.) to make health food taste more like regular food. Tremendous room for growth. Consumers want to eat healthier foods, but they won't compromise taste for wellness.
I can see the above is true, but I don't see this company as a good buy. To get a P/E of 15 their revenue (with all other costs fixed) would have to increase by a factor of 40; but their growth has been and is projected to be only 30% or so. It would take like 10 years to do get a P/E of 15 and meanwhile they are losing money. They are making a negative P/E now and seem way over priced.
Their projected earnings growth is much higher than 30% per year, although this growth rate is predicated on regulatory approvals (fairly likely) and the proving of their new technologies in the marketplace. Remember that this company doesn't need to be successful every time. One major breakthrough will pay for all the expenses associated with many major failures. Also remember that the company gets paid to perform much of its research; if it fails, their losses are capped, but if it fails, the company stands to make a lot of money. I'm very optimistic about this company over the next 2-5 years, but this is NOT a suitable investment for a short-term investor.