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.

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.

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