I have had my share of bad luck with eye based biotechs. It's a tricky sector within a sector.
Part of the problem is the hype, these stocks are going after a very large market... in fact most all old people have some dry eye problem. Or worse, I'm afraid to get my checkup for just this reason....
Here is a bio in phase 1 that has a 10 month and counting positive read out--
Ocular Therapeutix initiated with Outperform, $18 target at Baird 04/21 OCUL Baird analyst Colleen Kusy last night initiated coverage of Ocular Therapeutix with an Outperform rating and $18 price target. Ocular's OTX-TKI has shown "robust" Phase 1 data in reducing the treatment burden and keeping a high percentage of wet age-related macular degeneration patients VEGF-free at 10 months, the analyst tells investors in a research note. The firm believes OTX-TKI could offer a meaningfully longer treatment interval and take share in wet AMD, a "massive market." It also sees "strong rationale" in diabetic retinopathy, another potentially multi-billion-dollar market.
2 potential multi - billion markets?
