Ocular Therapeutix unveils $475 mln equity raise on investor day, shares rise

Shares of Ocular Therapeutix OCUL.O up 1.7% premarket at $12.74 as co secures $475 mln equity raise just before its investor day event

Bedford, Massachusetts-based OCUL announces pricing ~37.9 mln shares at $12.53, in-line with last sale on Mon

It intends to use net proceeds to fund its planned open-label extension study for axpali in patients with wet age-related macular degeneration (wet AMD), and fund planned Phase 3 trials of the drug for treatment of non-proliferative diabetic retinopathy (NPDR)

Wet AMD is a condition where abnormal blood vessels grow under the retina, leading to vision loss, while NPDR is a common complication of diabetes

BofA, TD Cowen and Piper Sandler are joint bookrunners for the offering

OCUL to highlight axpali progress when it hosts live event beginning at 2:00 p.m. ET on Tues

Co says for SOL-1 clinical trial topline data on track for 1Q 2026, and for SOL-R trial topline data on track for 1H 2027

OCUL has ~174 mln shares outstanding for $2.2 bln market cap

Through Mon close, shares up 47% YTD, including 35% gain QTD

All 13 analysts covering OCUL are bullish and median PT is $17.50, LSEG data reflects