Why the Nova Eye (ASX:EYE) share price is surging 7% higher

The Nova Eye (ASX: EYE) share price is up 7.5% today following the publication of its LEAD trial results. We take a closer look.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Nova Eye Medical Ltd (ASX: EYE) share price is in the green today. This comes after the company released positive results showing the efficacy of its 2RT treatment.

During mid-afternoon trade, the medical technology company's shares are up 7.58% to 36 cents.

What were the results?

In today's release, Nova Eye advised that it has published the results of its 5-year patient follow-up data from the LEAD trial in a recent publication of Ophthalmology Retina. The article discusses the long-term effect of subthreshold nanosecond laser (SNL) treatment on progression to late age-related macular degeneration (AMD).

The company said the LEAD trial was a randomised, controlled multi-centre study involving 292 patients over a 6-year period (2012 to 2018). The program assessed the efficacy of 2RT at the 3-year mark in patients suffering from intermediate AMD.

Of the enrolled patients that completed the 5-year review (222 patients), two groups were equally split. This consisted of the 2RT treatment group, and the other being the non-treatment group.

The published article states that when factoring the trial participants and additional data observed during the five-year post-LEAD review, the results are promising. It showed strong evidence of a reduction in the rate of progression in AMD when treated with 2RT.

What did management say?

Nova Eye Medical director Tom Spurling hailed the results, saying:

While these data have been calculated by the authors using post-hoc analysis, the improvement in the clinical response in patients without RPD at five years using is very exciting, particularly given these patients did not receive further 2RT treatment during the last two- year observation period.

Overall, there was a significant reduction in the rate of progression to late-stage AMD in these patients. This is of significant benefit to patients in deferring disease progression and thus maintaining their quality of life. It also supports our previously stated position that 2RT offers the potential to meet a major global unmet need to delay onset of blindness.

About the Nova Eye share price

The Nova Eye share price has lost almost half of its value since this time last year. The company's shares have been impacted by COVID-19, which has affected its medical equipment and devices business.

Based on the current share price, Nova Eye Medical commands a market capitalisation of close to $50 million.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Nova Eye Medical Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A man looking at his laptop and thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

The markets lost their steam this Thursday.

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Broker Notes

3 amazing ASX 200 shares to buy and hold forever

Brokers think these shares are in the buy zone. Let's see why they could be top buy and hold picks.

Read more »

iPhone with the logo and the word Google spelt multiple times in the background.
Opinions

I've been buying these 2 US stocks in 2025. Here's why

Sometimes the US markets are a better place to go shopping for stocks.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Share Gainers

Why Catapult, Hutchinson, SKS, and West African shares are pushing higher today

These shares are having a strong session despite the market weakness.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Dexus, Mayne Pharma, Nufarm, and Treasury Wine shares are falling today

These shares are having a tough session on Thursday. But why?

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Mergers & Acquisitions

IAG share price lifts off on strategic alliance approval

IAG shares are racing higher in Thursday’s sinking market.

Read more »

Rising gold share price represented by a green arrow on piles of gold block.
Gold

Up 72% in 2025, why is this ASX 200 gold stock racing ahead of the benchmark again today?

Investors are bidding up this high-flying ASX 200 gold stock again on Thursday. But why?

Read more »

A woman wearing a black and white striped t-shirt looks to the sky with her hand to her chin contemplating buying ASX shares today as the market rebounds
Share Market News

Where could the RBA interest rate go in the next 12 months?

Here’s what one expert thinks could happen with interest rates by early 2026.

Read more »