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.
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. Investing
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. GlobeNewswire
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. TipRanks
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.
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.
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.
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.
