I agree later stage trials will give better data, however don’t overlook that Cynata added ~$80M in market cap from a month prior to the P1 GvHD interim results vs. after. And this was primarily a result of a single institution (Fidelity) buying on market.
The treatment of diabetic foot ulcers is a significantly larger market than GvHD. In addition, this P1 trial has twice the number of patients (30 vs. 15). I think this makes it more valuable than the P1 GvHD results. I also don’t think the market is applying anything other than a token valuation to this indication based on the current market cap. Add all this together and my opinion is that there is every chance the company gets a similar market cap bump before and after DFU results (assuming they’re good!!)
Going forward..., page-1682
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