I read today’s press release and listened to the conference call. They remain cash flow positive while funding R & D and buying back stock.
They believe the two study results announced this quarter related to Visudyne/Lucentis will increase Visudyne sales in patients requiring ongoing frequent dosing of Lucentis to maintain visual acuity, i.e., at the margins, not the majority of patients with wet AMD. They appear most enthusiastic about the prospects of the LCA treatment vs the latanaprost plugs, still at too low a retention rate and dose at the site.
From my perspective remains a solid hold over the next year or so as their longterm growth/viability becomes clear. There is little downside risk here with their high quality assets remaining intact.
doc
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