Viatris (VTRS) Announces Positive Top-line Results from VEGA-3

Viatris Inc. (NASDAQ:VTRS) is one of the Most Undervalued Stocks Under $10 to Buy Now. The company announced positive top-line results from VEGA-3, which is the second pivotal Phase 3 trial evaluating MR-141 (phentolamine ophthalmic solution 0.75%) in treating presbyopia. To give a brief overview, presbyopia happens to be a progressive loss of the ability to focus on close objects, which leads to blurred near vision and eye strain, mainly in dim lighting conditions.

Viatris (VTRS) Announces Positive Top-line Results from VEGA-3

A healthcare worker in a lab coat, holding a microscope and reflecting on the diagnosis of a patient.

As per Viatris Inc. (NASDAQ:VTRS)’s Chief R&D Officer, presbyopia is a very common condition that affects ~90% of adults in the US over the age of 45. Viatris Inc. (NASDAQ:VTRS) expressed optimism with the positive results from the second pivotal Phase 3 trial, which reinforce the company’s confidence in MR-141 and its benefit-risk profile as a potential, non-invasive option to help millions of patients. Furthermore, Viatris Inc. (NASDAQ:VTRS)’s growing pipeline, capital discipline, operational execution, and strong global scope provide confidence to navigate the periods of volatility and uncertainty.

Viatris Inc. (NASDAQ:VTRS) continues to generate strong cash flow. Its net cash provided by operating activities (US GAAP) came in at $535 million, and FCF was $493 million, which includes $43 million in transaction-related costs.

While we acknowledge the potential of VTRS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than VTRS and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.