Redeye provides an initial comment on Fluoguide communicating a strategic update for FG001’s clinical development. We endorse the company prioritising high-grade glioma and head and neck cancer as indications, likely offering the best risk/reward overall. Further, we understand that Fluoguide intends to explore combining fluorescence-guided surgery and photothermal therapy in future HGG trials, increasing the product candidate’s potential value but also delaying pivotal trials by around one year versus our previous estimate. We will await the company’s presentation of its strategic update on Wednesday this week before adjusting our estimates and valuation to account for the company’s updated clinical development plans.
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