Ann: ELX LEAD Clinical trial results, page-6

Congratulation to the believer in ELX. The recent volatility is a testament to who are simply traders vs value investors.

I see this trial as positive for the following reasons.
1. It worked on the majority of the patients with 13.6% of participants treated progressing to Late-AMD, compared to 17.2% of participants.
2. In patients without coexistent reticular pseudodrusen, 2RT showed clinically meaningful 77% reduction in the rate of progression from iAMD to late AMD versus placebo.
3. More importantly, no device-related serious adverse events.

For me, despite of lack of statistical significance in treating the majority of the population, 2RT worked quite well with patients who responded positively, in slowing their progressions to late-AMD.
From a commercial perspective, since 2RT has little side-effect, patients, especially in developed nations definitely have incentives to try the treatment. To them, "if it worked, it's wonderful; if it didn't, it was worth a try, since 2RT is one of the only treatment at the moment."

I think the safety and effectiveness of 2RT stands out for me, even if it only works on a proportion of the population. To me, it's a good, meaning innovation.

From the share price performance, it's once again evident that market is quite efficient, since the price has been increasing prior to this release. At the same time, efficient market also consists of traders and institution, who speculated and made the share price plunge to 0.63, in less than a month ago without any news.
Indeed, Mr Market is efficient in the long run but volatile and misleading at times. But, good companies do prevail in the long term. I will hold ELX.

One of the Warren Buffett's favorite quote :
“In the short run, the market is a voting machine but in the long run it is a weighing machine.”

— Ben Graham