![]() ![]() Nova Eye Medical (ASX:EYE) share price chart, log scale (Source: TradingView) The company just got FDA approval for the latest generation, which has led to the company’s hot share price run of late. The second is Molteno3, a glaucoma drainage device. iTrack has been for sale since 2008 and has been used in over 120,000 surgeries worldwide. The company’s main product is iTrack, which uses ‘microcatheters’ to remove the need for stents in glaucoma treatment. The market for treatments amounts to US$700m and the market for canal surgery (the segment Nova Eye Medical operates in) is projected to grow at a CAGR of 20% between now and 2027. The former, glaucoma, is a progressive eye disease that involves the build up of fluid inside the eye, leading to excessive intraocular pressure and damage to the optic nerve. ![]() Nova Eye Medical, formerly known as Ellex, has been listed since 1987. A big change came in 2020 when it divested its Ellex Laser and Ultrasound business, changed its name to Nova Eye Medical and buckled down to focus on Glaucoma and intermediate Age-Related Macular Degeneration (iAMD). GET A 3-MONTH FREE TRIAL TO CONCIERGE TODAY Concierge is outperforming the market by a significant margin! We only send out alerts on very high conviction stocks following substantial due diligence and our stop loss recommendations limit downside risks to individual stocks and maximise total returns. Nova Eye Medical (ASX:EYE) has had a good month. The optometry company obtained FDA clearance for its newest generation canaloplasty device for canal-based glaucoma surgery, the iTrack advance to treat glaucoma. So is it time to jump on board?ĭo you need solid trading & investment ideas on the ASX? Stocks Down Under Concierge can help! Concierge is a service that gives you timely BUY and SELL alerts on ASX-listed stocks – with price targets, buy ranges, stop loss levels and Sell alerts too.
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