Clinical TrialsThe Phase 3 COAST trial of sozinibercept in combination with Eylea in wet age-related macular degeneration failed to meet its primary endpoint, which is disappointing.
Financial SolvencyThe company could be required to pay four multiples of the amounts paid to the company upon termination of the DFA agreement, which would have a material impact on the solvency of the company.
Stock PerformanceGiven the negative readout, the stock is downgraded to MP and the price target moves from $12 to $1.