Biotech Values

[mcbio]

Jacob replied to your tweet on ARPO. What do you make of it?

He responded but didn't really add much. I was referring to the trial he referenced but noted the recent slide deck presentation that has more details. ARPO is no longer pursuing the DME indication that was otherwise planned for at the time of that PR that Jacob linked to. They appear to now only be pursuing DR, for which their drug was inferior to Lucentis at month 3 based on slide 17 of the slide deck.

So, not clear to me what they're going for with the drug. Are they hoping for a single agent drug that will ultimately prove to be superior to VEGF inhibitors over time? Or are they hoping to combine their drug with someone else's VEGF inhibitor at some point?

If you have any positive comments on ARPO, would love to hear. The stock doesn't have a lot of value assigned to it at ~$130M mkt cap but just trying to get a sense of if there is a fundamental reason to believe in the story (cheap valuation alone is never enough for me personally; I have to believe a drug can work eventually).