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Redeye updates its view of IRLAB following the Q1 report. We argue that the future of Mesdopetam, and the decision made by Ipsen in this regard, will have a significant impact on the market sentiment towards IRLAB's stock in the coming months. Still, we argue that there is plenty of value in the company beyond Mesdopetam, including the independent asset Pirepemat (with phase IIb readout expected in 2024) and the research engine ISP.
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