Ocular Therapeutix's eye drug superior to Regeneron's Eylea in late-stage trial

By Kamal Choudhury

Feb 17 (Reuters) - Ocular Therapeutix OCUL.O said on Tuesday its experimental eye disease drug was more effective in helping patients maintain their vision compared to Regeneron's REGN.O approved treatment Eylea in a late-stage trial.

The Massachusetts-based company said that for the first time, an investigational drug for wet age-related macular degeneration has shown better results than an approved treatment in a trial meeting strict FDA standards.

The chronic eye disorder, a leading cause of blindness among the elderly, causes blurred vision or a blind spot in the patient's visual field. The disease affects about 1.7 million Americans, according to the company.

The trial enrolled 344 patients with newly diagnosed wet AMD and demonstrated that Ocular's drug, Axpaxli, outperformed Eylea, one of the most widely used treatments for the disease.

About 74% of patients who received a single 0.45 mg dose of Axpaxli maintained their vision at 36 weeks, compared with nearly 56% of those receiving a single 2 mg dose of Eylea. After one year, nearly 66% of Axpaxli patients maintained vision, while less than half of the comparison group did.

Shares of Ocular, which gained nearly 39% in 2025, plunged about 25% in premarket trading.

Needham analyst Serge Belanger said that retinal specialists might appreciate today's data, but investors could be disappointed by "the much narrower difference" between the drugs and the higher incidence of vitreous floaters and cataracts.

The drug also demonstrated better fluid control in the eye, a key measure of disease management.

Ocular said many patients on Axpaxli did not need additional "rescue" injections for almost a year, suggesting the treatment may reduce the number of clinic visits required.

The company said it plans to discuss the data with the U.S. Food and Drug Administration and expects to submit a marketing application based on the results.