Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
I-track advance was FDA approved May 2023, sales of device grown significantly and product is apparently receiving strong acceptance from the US ophthalmologists. It seems to be grossly undervalued at A$50Mil market Cap, any thoughts and you view of their potential Market Cap?
Hi George,
It certainly has a great ASX ticker (EYE) and we applaud them for the work they are doing towards Glaucoma treatment technologies. Unfortunately, we don’t know the company well. Evans & Partners and Taylor Collison both cover the stock, the former with a 60c price target, more than double the current 27c share price. Both brokers helped EYE to raise ~$8m equity recently at 21c, so they are funded for now. It does look interesting and it doesn’t take a lot for a company like this to double in size. Current mtk cap is now $60m, noting this would be a considered a very high risk investment. Sorry we couldn’t be more definitive.
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