They often like their TO plays as it provides an easy exit. Considering how many shares they hold here it would be tough for them to sell on market. I’m guessing they’re looking for a takeover offer to come after results, similar to the dry AMD drug recently. OPT is a pretty obvious candidate for an offer considering the synergy benefits it would have for existing companies in the space (especially given the fact that their patents are expiring), not to mention the fact that wet AMD is generally a highly lucrative and very large market.
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