Mar. 10 at 5:12 PM
$OCUL
Current MCap is
$2.2 billion
Market for AMD drugs is
$3-5 bln and there is one top performer that captured the largest share of that market, that’s Eylea and that’s who OCUL just beat. OCUL can also seek expanded (off-label if need be) use for diabetic retinopathy which in itself is a large market (>
$1.3 trillion per year spent in the US to address the sequelae of type 2 diabetes)
This will easily replace Eylea, in time. Lucky for investors, hedge funds can anticipate that move in the future and discount it back to now. Which is why PTs were raised after stellar SOL-1 results the FDA guided, with the lowest PT in the
$20 s, a >100% premium from current prices.
Even at forward P/S of 1, this is underpriced by a lot.
Ocul has the flexibility of marketing this on their own (large cash piles) or sell to the highest bidder.
$REGN $PFE $MRNA
