Ocular Therapeutix's (OCUL) Axpaxli outperformed a low dose of Regeneron's Eylea in a late-stage wet AMD trial — but narrower-than-expected margins sent shares crashing 27%, raising serious doubts about its commercial future.
French pharma giant Sanofi is preparing an improved takeover offer for Ocular Therapeutix after its initial $16-per-share proposal was rejected by the biotech's board.
Ocular Therapeutix (OCUL) shares surge 27% after announcing plans to fast-track FDA submission for Axpaxli, a promising new treatment for wet age-related macular degeneration affecting millions.
Piper Sandler raised Ocular Therapeutix stock target to $31 and boosted the AXPAXLI sales forecast to $3.2B due to promising eye drug trial data.
