Deal Details

Ocular Completes $475.0 Million Follow-On Offering

Healthcare

Ocular follow-on offering

Summary

Ocular Therapeutix, Inc. (“Ocular”) (NASDAQ: OCUL) recently announced an underwritten offering of 37,909,018 shares of its common stock at an offering price of $12.53 per share, generating gross proceeds of approximately $475.0 million. Ocular intends to use the net proceeds from this offering, together with its existing cash and cash equivalents, to fund its planned open-label extension study for AXPAXLI™ in patients with wet age-related macular degeneration; to fund its planned Phase III clinical trials of AXPAXLI™ for the treatment of non-proliferative diabetic retinopathy; for investments in infrastructure, including capital expenditures to support manufacturing; for pre-commercialization activities associated with AXPAXLI™, if approved; and for working capital and other general corporate purposes.

Baird acted as a lead manager on the offering.

About

Ocular is an integrated biopharmaceutical company committed to redefining the retina experience. AXPAXLI™ (also known as OTX-TKI), Ocular’s investigational product candidate for retinal disease, is an axitinib intravitreal hydrogel based on its ELUTYX™ proprietary bioresorbable hydrogel-based formulation technology. AXPAXLI™ is currently in Phase III clinical trials for wet age-related macular degeneration (wet AMD), with Phase III clinical trials for non-proliferative diabetic retinopathy (NPDR) planned to be initiated imminently. Ocular is headquartered in Bedford, Massachusetts.