The market is mixed on the LEAD trials. The result of its effectiveness on patients without RPD is probably the main selling points.
In terms of valuation, I think 2RT would a game changer, if it worked like magic for all patients. However, its magic was only for some patients. But, some investors were definitely too optimistic about the outcome, before yesterday.
The value of 2RT to me was never magic cure to AMD for all, but more close to incremental, supplementary treatment that slows the progression. The benefit of it to patient without RPD was quite effective, based on LEAD. already a giant step (since noone has found anything better yet) - 1st tick
The value of iTrack remained undervalued, compared to Glaukos valuation - 2nd tick
The core business of lasers is profitable - 3rd tick
I think the people that are selling today, out of End-points failure might be the people who pumped up the price, in hope of a miracle from LEAD. From valuation, iTrack and its core were worth more than $1.
2RT had always been a bet. Now, the bet had partially paid off, since it only works for patients without RPD.
The market is mixed on the LEAD trials. The result of its...
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