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"CLSD: Exploring strategic alternatives after firing all staff. Owns royalty rights to FDA-approved XIPERE (Bausch) & ABBV/RGNX gene therapy partnership. ABBV upgraded opportunity from 'small' to 'highly transformative.' BUT: sold first $106M proceeds to HCR, ~$3-10M net debt, no institutional holders, patents expire risk. Paths to multibagger or zero."
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