The headline is DME enrollment completion. The actual news is one clause in the “About DURAVYU” boilerplate: “Data from the Phase 3 wet AMD program are anticipated to be reported beginning in August 2026.” Since the original deep dive, the language has been “mid-2026,” then “beginning mid-year,” then in my July 17 note “~weeks away.” Now it’s a named month. The binary event I built the BUY around is essentially at the door.
The stock is at $12.86, down 3.3% from $13.30 on July 17. That’s noise, not a verdict — and notably, the tape did not reward a clean operational milestone, which tells you exactly what the market is waiting for.
