I think we still have a small chance to catch up to market cap of where Stoke is today, and for Stoke to be much higher than where they are today by year end (If STK-002 wins, it helps bolster our case)
If PYC IRD ocular program have 3 leads sharing the same chemical backbone for delivery:
1) VP-001 - RP11
2) VP-002 - ADOA
3) PYC-001 - DR
Thence once VP-001 breakthroughs; it provides a significant uplift for DCF calcs for 2)-3) due to the positive probability delta from 1) efficacy validation work up
4) CNS-00x - wildcard is the addressable market size; don’t know yet but keen for more deets
I probably assign an overweight probability of PYC achieving success - maybe I’m drinking too much of the ‘precision medicine’ kool-aid but am really impressed by the patient derived models/technical data points from VP-001/02 work-up and if they can prove it as they go clinical - than the market in the future will run with valuations that are bridged higher and stronger for future leads from PYC’s platform as they will have confidence in PYC’s early pre clinical data points that are derived from gold standard/best in class patient derived models.
Hinges on VP-001 early clinical intervention readouts being stellar - I don’t know how soon we can see that - but Rohan said we’ll close the year with 4 assets defined which is roughly where Stoke is now:
from their website, pipeline page:
(20min delay)