NEW YORK, March 3, 2026, 09:00 ET — Premarket
Ocular Therapeutix slipped 2.6% to $10.70 before the bell Tuesday. That follows a 22.8% surge the previous session, when shares finished at $10.98. 1
This comes on the heels of a packed Monday for the Bedford, Massachusetts biotech. Ocular Therapeutix laid out fresh data from its SOL-1 trial of Axpaxli targeting wet age-related macular degeneration, or wet AMD. Speaking at a TD Cowen conference, CEO Pravin U. Dugel described the results as a “positive outcome” and pointed to what he called a rare “superiority” result against an anti-VEGF drug, the go-to class for eye injections. 2
Why this is in focus: Wet AMD can quickly damage central vision, forcing most people onto a cycle of regular injections to control it. Ocular claims Axpaxli may help ease that routine. Topline data from the SOL-1 trial put 74.1% of Axpaxli patients holding their vision at week 36, compared to 55.8% for those on aflibercept. By week 52, about two-thirds on Axpaxli stayed “rescue-free”—no additional shots needed per trial rules. 3
Analysts wasted no time reacting to the numbers. Clear Street bumped its price target up to $28, previously $21, sticking with a Buy. They described the efficacy data as “consistently positive,” adding Axpaxli “offers durable control” for wet AMD. Benzinga identified Clear Street’s Bill Maughan as the analyst behind the note. 4
Monday was a big day for trading volume, with shares moving between $8.64 and $11.00. Roughly 17.2 million shares traded, Yahoo Finance historical data shows. 5
During the company’s data-review call Monday morning, an operator mentioned that a replay would be offered, while investor relations pointed listeners to the Macula Society slide deck and video for the complete dataset. 6
The debate is still very much alive. William Blair kept its Outperform call, though the firm emphasized it’s not factoring in early approval based on a single trial. Meanwhile, the same note pointed to Needham’s price target cut to $18 from $20 right after the February topline numbers—Needham flagged the smaller-than-hoped efficacy difference. The SOL-R study now looks set for a data readout in the first quarter of 2027. 7
A pair of conferences looms for Ocular next week—first up, the Barclays Global Healthcare Conference on March 11, followed by a slot at RBC’s ophthalmology event March 24. Both could bring fresh clarity on the NDA filing schedule and shed light on any FDA remarks. 8
