Ocular shares surge after report Sanofi revives acquisition interest

Shares of biopharma firm Ocular Therapeutix OCUL.O jump 14.2% to $12.64

Sanofi SASY.PA is reportedly targeting OCUL for acquisition, according to French newspaper La Lettre

French drugmaker had initially bid to buy Ocular for $16 per share last summer that was rejected in September - RBC

RBC Capital Markets analyst Lisa Walter says "Sanofi is now preparing an improved proposal"

For Sanofi, there is a need to replace Dupixent revenue which is facing LOE in 2031 and entering into the $15 billion neovascular, diabetic eye disease market could help, Walter adds

As of last close, OCUL up 36.2% in past 12 months