OcularTherapeutix, Inc. – Nasdaq: OCUL
Bedford, MA-based Ocular Therapeutix, Inc. shares are up over 8% in pre-market trading. Traded on the Nasdaq under ticker OCUL, the shares are benefitting from positive news that additional positive secondary endpoint results were reached from its most recent successful phase 3 clinical trial of Dextenza™ (dexamethasone insert) 0.4 mg, for the treatment of post-surgical ocular inflammation and pain.
Dextenza is a product candidate administered by a physician as a bioresorbable intracanalicular insert and designed to release drug to the ocular surface for up to 30 days. Dextenza successfully met the trial’s two primary efficacy endpoints, absence of ocular pain on day 8 and absence of ocular inflammation on day 14 when compared to placebo. In this Phase 3 clinical trial, for which the complete safety assessment will be available in the first quarter of 2017, no treatment-related serious adverse events were observed. Dextenza has exhibited a favorable safety profile and has been well tolerated in all clinical trials, regardless of indication.
“The positive results for the secondary endpoint of absence of ocular flare build upon the successful topline results from this trial which we announced last month,” said Jonathan H. Talamo, M.D., Chief Medical Officer of Ocular Therapeutix.
Ocular Therapeutix, Inc. (NASDAQ: OCUL) is a biopharmaceutical company focused on the development and commercialization of innovative therapies for diseases and conditions of the eye using its proprietary hydrogel platform technology. Ocular Therapeutix plans to resubmit an NDA in the first quarter of 2017 for post-surgical pain for its lead product candidate, Dextenza™.
OCUL shares had an EPS loss of $2.69 in 2014 and a loss of $1.71 in 2015. Sales were $0.8 million in 2014 and $1.8 million in 2015. Four firms follow Ocular Therapeutix, Inc. Two give OCUL shares a “Strong Buy” rating and Two give OCUL a rating of “Buy”. Consensus price tagrte is $26.50.
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|Last Price a/o 8:37 AM EST||$9.09|
|Average Volume||1.06 million|
|Market Cap||$206 milion|
|Shares Outstanding||24.76 million|
|Share Float||21.79 million|
|Short Interest Ratio||4.83|