"Why was TARS down sharply yesterday on the FDA-approval news (although it partially recovered today)?"
Unfortunately I do not know exactly what caused the sell off. The company developed and got FDA approval for an eyelid disorder, Demodex blepharitis, a common albeit overlooked external eye disease caused by "mites" that irritate the ocular area. It is reported that 25 Million in the USA struggle with this condition. Clearly there is a market for a medical treatment to help those struggling with this condition (which sounds gross, mites, dust mites). Historically speaking, tea tree oil has been used with limited success based on my interpretation of what I was able to review.
Perhaps the sell off might be attributed to some extent that a few Executives executed the sales of stock once the news of FDA approval. As we typically witness, news of FDA approval is a signal some shareholders to divest and move on. I believe we witnessed this with RVNC and to a lesser degree, GMDA, both companies I am invested in.
Apropos the market size and opportunity for TARS, I read that "The rate of Demodex (mite) infestation increases with age, being observed in 84% of the population at age 60 and 100% of those older than 70 years". What will be interesting to research, is what does this market opportunity imply apropos sales revenue and corresponding profit margin for the approved drug, Xdemvy (TP-03). I am still researching this company (TARS) and will share anything interesting here. Respectfully, Rich
