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Positive early data for a novel Wnt-activating therapy could imply a milestone path toward Phase 3, potentially uplifting valuation of Merck's ophthalmology franchise; however, the data are early and lack clear near-term approval signals, capping upside.
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Merck disclosed one-year BRUNELLO data for MK-3000 (formerly EYE103), a Wnt-activating tetravalent tri-specific antibody for diabetic macular edema. Positive signals could advance toward pivotal Phase 3 and broaden Merck's ophthalmology portfolio, though data are early and regulatory timelines remain uncertain, implying attractive upside but notable execution risk.
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