Ann: Retina Target Engagement Confirmed in Large Eye, page-10

If accompanied by successful safety and tolerability data (expected in Q4 2021), these
results have the potential to demonstrate the competitive advantage of PYC’s technology
in an area of major unmet need - blinding eye diseases

Market waits for that information to be confirmed before comitting, it seems. Those researched in this stock, its sector and
competition commit a little earlier than the broader market.
It just results in a rerate development and held low until then, accommodating funding arrangements.
The longer this is held low the more violent the break out.


all IMO