Vyome (HIND) stock surged on Wednesday after the medical device company released preclinical study data for VT-1908 as a topical treatment for uveitis. Uveitis is a form of inflammation in the middle layer of the eye that can cause pain, redness, and blurry vision. Current treatments include corticosteroids, immunosuppressants, antibiotics or antivirals, and pain relievers, depending on the cause and severity of the inflammation.
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Vyome noted in its data that VT-1908 was as effective as steroids at treating anterior uveitis, which is the most common form of uveitis. This is important as steroids can cause problems when used to treat uveitis, such as cataracts and glaucoma. With these latest study results, Vyome has the potential to tap into a market that is expected to reach $20 billion by 2030.
Dr. Shiladitya Sengupta, co-founder of Vyome and Associate Professor of Medicine at Harvard Medical School, said, “Inflammation is one of the biggest problems of our time, which is often linked to the immune system, and we are addressing the root cause in tangible and specific applications in the eye. The fact that VT-1908 is as effective as a steroid is exciting as we can aim to replace steroids in the eye, which are associated with a number of complications.”
Vyome Stock Movement Today
Vyome stock was up 61.12% in pre-market trading on Wednesday, following a 6.28% fall yesterday. The shares have also decreased 98.64% year-to-date and 99.33% over the past 12 months. Today’s news came with heavy trading, as some 8.5 million shares changed hands, compared to a three-month daily average of about 547,000 units.
Is Vyome Stock a Buy, Sell, or Hold?
Turning to Wall Street, analyst coverage of Vyome is lacking. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates HIND stock an Underperform (37) with no price target. It cites “significant financial challenges, with persistent losses, negative equity, and cash flow issues” as reasons for this stance.
