Nova Eye Medical (EYE) Discussion, page-7

The comps are definitely compelling and there has been a lot of M&A in the MIGS space. Now that the reimbursement dynamic has changed (ie canalaplasty now has a more favourable reimbursement differential than stents) and a substantial amount of new research showing the advantages of canalaplasty, I’d expect to see a shift in that M&A towards products like iTrack. Although, I’d definitely vote no to an acquisition as I just see so much growth potential in this space, and would hate to see EYE sell off the years of investment and R&D they have undertaken to make iTrack Advance a truly superior MIGS device

All other companies in the space are either trading at massive revenue multiples or have been acquired at massive revenue multiples and EYE is sitting here at a revenue multiple that is less than 2x (and don’t forget the huge R&D pipeline it has)!! Seems insanely undervalued relative to peers imo