Redeye reiterates its positive stance on Guard following a successful IND-meeting with FDA regarding the future clinical development of ROSgard. Beyond the planned phase 1b trial commencing early next year, no further studies will be required to submit an IND application. The positive feedback from FDA enables Guard to include American study centres in its phase II trial with ROSgard during the next year. This is in line with our expectations and we reiterate our Base case of SEK 3 per share – providing considerable upside from current share price.