Ocular Therapeutix™ Announces Proposed Public Offering of Common Stock

About this update from Ocular Therapeutix, Inc.

[{"type":"text","content":"BEDFORD, Mass., Dec. 13, 2023 (GLOBE NEWSWIRE) -- Ocular Therapeutix™, Inc. (Nasdaq: OCUL) (the “Company”), a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, today announced that it has commenced an underwritten public offering of its common stock. In addition, the Company is expected to grant the underwriters of the offering a 30-day option to purchase up to an additional 15% of the number of shares of common stock offered in the offering. All of the shares in the proposed offering are to be sold by the Company. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. Jefferies, BofA Securities and Piper Sandler & Co. are acting as joint book-running managers for the proposed offering. The Company intends to use the net proceeds from the proposed offering, together with its existing cash and cash equivalents, to fund the Phase 3 clinical development of AXPAXLI for the treatment of wet AMD, including its ongoing SOL pivotal Phase 3 clinical trial and its planned second Phase 3 clinical trial; to support its other clinical development programs; and for working capital and other general corporate purposes. The proposed offering is being made pursuant to a shelf registration statement on Form S-3 that was previously filed with and declared effective by the Securities and Exchange Commission (SEC). This offering will be made only by means of a prospectus supplement and the accompanying prospectus that form a part of the registration statement. A preliminary prospectus supplement relating to and describing the terms of the public offering is expected to be filed with the SEC. Before investing in the offering, interested parties should read the prospectus supplement and the accompanying prospectus for the proposed offering and the other documents the Company has filed with the SEC, which are incorporated by reference in the prospectus supplement and the accompanying prospectus for the offering and which provide more complete information about the Company and the offering. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus for the offering, if and when fi...

More updates from Ocular Therapeutix, Inc.