Beyond Cataract Surgery: Analyst Highlights Broader Market Potential For Eyenovia/Formosa's Steroid For Post-Eye Surgery Pain, Inflammation
Portfolio Pulse from Vandana Singh
The FDA approved Formosa Pharmaceuticals and AimMax Therapeutics' clobetasol propionate ophthalmic suspension 0.05% (APP13007) for post-operative inflammation and pain following ocular surgery. This marks the first FDA-approved ophthalmic clobetasol propionate product and enters a $1.3 billion market. Eyenovia Inc (NASDAQ:EYEN) is Formosa's U.S. commercialization partner, having obtained exclusive U.S. rights for APP13007. William Blair increased Eyenovia's risk-adjusted fair value from $5 to $7 per share, with an Outperform rating.
March 05, 2024 | 3:59 pm
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Eyenovia Inc partners with Formosa Pharmaceuticals for the U.S. commercialization of APP13007, a newly FDA-approved treatment for post-operative eye inflammation and pain. William Blair increased Eyenovia's fair value from $5 to $7 per share, maintaining an Outperform rating.
The FDA approval of APP13007, for which Eyenovia has exclusive U.S. commercialization rights, opens up a significant market opportunity. The increase in fair value by William Blair reflects positive investor sentiment and potential revenue growth from this approval. Given the direct involvement and financial implications, this news is highly relevant and important for Eyenovia investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100