This is reminiscent of a period about five years ago when (National Basketball Association star) Magic Johnson got AIDS and any company with anything to do with AIDS research went up. Those companies that didn't have anything legitimate later collapsed.
(The wet AMD market) is already pretty big. There are treatments, but this looks like a positive step.
My first take on it was that I was concerned about dilution to Amgen,
We think it's a great stock, ... But we can't say that the stock is cheap, trading at over 80 times earnings. We get a little bit of acrophobia.
It could be huge, ... potentially a multi-billion dollar drug.
If you're going to develop an orphan drug, you're going to have to charge a substantial price for the drug in order to make it worthwhile.
