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Ocular Therapeutix (OCUL) Stock Price, News & Analysis

OCUL NASDAQ
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Price Move History

Daily moves over 5%
49 252 sessions, November 13, 2025 to November 13, 2026
Largest daily move
+28.1% close of December 8, 2025
1-year change
-44.5% closing prices, November 13, 2025 to November 13, 2026
1-month change
-14.2% closing prices, October 13, 2026 to November 13, 2026

Company Description

Ocular Therapeutix, Inc. (NASDAQ: OCUL) is an integrated biopharmaceutical company in the pharmaceutical preparation manufacturing industry that focuses on therapies for diseases and conditions of the eye. According to the company’s public statements, it is committed to "redefining the retina experience" by developing and commercializing ophthalmic products that use its proprietary ELUTYX™ bioresorbable hydrogel-based formulation technology. Ocular Therapeutix’s work centers on retinal diseases and post‑surgical and allergic eye conditions, combining a commercial product with a late‑stage development pipeline.

The company’s pipeline includes AXPAXLI™ (also known as OTX‑TKI), an investigational, bioresorbable, intravitreal hydrogel that incorporates axitinib, a small‑molecule, multi‑target tyrosine kinase inhibitor with anti‑angiogenic properties. AXPAXLI is being evaluated for the treatment of wet age‑related macular degeneration (wet AMD), non‑proliferative diabetic retinopathy (NPDR), diabetic retinopathy more broadly, and other retinal diseases. Multiple registrational Phase 3 clinical trials are underway or planned, including the SOL‑1 and SOL‑R programs in wet AMD and the HELIOS‑2 and HELIOS‑3 programs in NPDR, as described in the company’s press releases and SEC filings.

In wet AMD, Ocular Therapeutix is conducting the SOL‑1 and SOL‑R Phase 3 trials for AXPAXLI. SOL‑1 is a multi‑center, double‑masked, randomized (1:1) superiority trial comparing a single injection of AXPAXLI 450 µg to a single injection of aflibercept 2 mg in treatment‑naïve wet AMD patients. The primary endpoint is the proportion of subjects who maintain visual acuity, defined as a loss of fewer than 15 ETDRS letters of best corrected visual acuity (BCVA), at Week 36, with additional evaluation of durability up to Week 52. SOL‑1 is being conducted under a Special Protocol Assessment (SPA) agreement with the U.S. Food and Drug Administration (FDA).

SOL‑R is a registrational Phase 3 non‑inferiority trial in wet AMD that evaluates AXPAXLI 450 µg dosed every 24 weeks compared to aflibercept 2 mg dosed every eight weeks. It is a multi‑center, double‑masked, randomized (2:2:1), three‑arm study that enrolls treatment‑naïve subjects or those recently diagnosed with wet AMD. The primary endpoint is to demonstrate non‑inferiority in mean BCVA change from baseline between the AXPAXLI arm and the on‑label aflibercept 2 mg arm at Week 56, with a non‑inferiority margin of −4.5 ETDRS letters as agreed with the FDA. The SOL‑R design includes an extended screening and loading phase that uses anti‑VEGF therapy and aflibercept to select subjects with more stable retinal fluid characteristics before randomization.

Ocular Therapeutix also plans a long‑term open‑label extension study, SOL‑X, for subjects who complete SOL‑1 or SOL‑R. As described in the company’s 8‑K filing, SOL‑X is intended to evaluate long‑term safety, visual outcomes (including visual acuity and the incidence or progression of fibrosis and macular atrophy), and the impact of delayed initiation of AXPAXLI in patients who initially received aflibercept in the registrational trials. In SOL‑X, enrolled subjects are expected to receive AXPAXLI every 24 weeks and be followed for several additional years.

In diabetic retinal disease, Ocular Therapeutix is advancing the HELIOS program for AXPAXLI in NPDR. HELIOS‑2 is a planned Phase 3, multi‑center, double‑masked, randomized (1:1) superiority trial in approximately 432 subjects with moderately severe to severe NPDR without center‑involved diabetic macular edema (DME). It compares a single injection of AXPAXLI 450 µg to a single injection of ranibizumab 0.3 mg, with re‑dosing at Week 52. The primary endpoint is an ordinal two‑step change in diabetic retinopathy severity score (DRSS) at Week 52, categorizing subjects into ≥2‑step improvement, ≥2‑step worsening, or less than a two‑step change. The company has received a SPA agreement from the FDA covering the HELIOS‑2 design and this novel ordinal DRSS endpoint.

HELIOS‑3 is a complementary Phase 3 trial in NPDR, also described in company disclosures. It is a multi‑center, double‑masked, randomized (1:1:1), three‑arm superiority study in approximately 930 subjects with moderately severe to severe NPDR without center‑involved DME. Subjects receive either AXPAXLI at Day 1 and Week 24, AXPAXLI at Day 1 and sham at Week 24, or sham injections at both time points. The primary endpoint is the same ordinal two‑step DRSS change status at Week 52 used in HELIOS‑2. Both HELIOS studies are designed to include patients with non‑center‑involved DME to target a broad diabetic retinopathy label.

Beyond its retinal pipeline, Ocular Therapeutix has a commercial ophthalmic product, DEXTENZA®. According to the company’s news releases, DEXTENZA is an FDA‑approved corticosteroid for the treatment of ocular inflammation and pain following ophthalmic surgery in adults and pediatric patients, and for ocular itching associated with allergic conjunctivitis in adults and pediatric patients aged two years or older. DEXTENZA and the investigational candidates AXPAXLI and OTX‑TIC all leverage the company’s ELUTYX bioresorbable hydrogel technology to deliver therapeutic agents to the eye.

OTX‑TIC is another investigational product candidate in the Ocular Therapeutix pipeline. It is described as a travoprost intracameral hydrogel that has completed a Phase 2 clinical trial for the treatment of open‑angle glaucoma or ocular hypertension. The company has stated that it is evaluating next steps for the OTX‑TIC program.

Ocular Therapeutix’s regulatory and clinical strategy for AXPAXLI is documented in its press releases and SEC filings. The company highlights its use of SPA agreements with the FDA for SOL‑1 and HELIOS‑2, written FDA feedback on SOL‑R, and plans to leverage the 505(b)(2) regulatory pathway for AXPAXLI in wet AMD, based on axitinib’s prior approval in non‑ophthalmic indications. The company has also disclosed that it received a notice of allowance from the U.S. Patent and Trademark Office for a patent application covering methods of treating ocular diseases with AXPAXLI, with an expected patent term into the 2040s, absent extensions.

According to recent 8‑K filings, Ocular Therapeutix’s common stock trades on The Nasdaq Global Market under the symbol OCUL. The company has used public equity offerings and credit facilities to support its clinical programs, manufacturing scale‑up, and pre‑commercial activities associated with AXPAXLI. Its SEC filings describe expectations that available cash, together with proceeds from offerings and anticipated cash inflows from DEXTENZA product sales, will fund planned operating expenses, debt service obligations, and capital expenditures for a multi‑year period, although those projections are subject to the assumptions and risks outlined in the company’s forward‑looking statements.

Overall, Ocular Therapeutix presents itself as an ophthalmology‑focused biopharmaceutical company that combines a commercial corticosteroid product with a late‑stage retinal pipeline built on a proprietary hydrogel platform. Its disclosed strategy emphasizes long‑acting intravitreal and intracameral therapies, registrational trials aligned with FDA guidance, and the potential to address unmet needs in wet AMD, diabetic retinopathy, glaucoma, ocular hypertension, and post‑surgical and allergic eye conditions.

Stock Performance

$6.26
+0.83%
+0.05
After hoursChange vs the $6.21 closeLast updated: November 13, 2026 at 18:40
-44.5%
Performance 1 year

Ocular Therapeutix (OCUL) closed at $6.21 on November 13, 2026. Over the past 12 months, the price has lost 44.5%.

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OCUL Metrics & Rankings

Price returns through November 13, 2026. Month and year figures include the first trading day. Ranking links may use different dates.

Insider Radar

Net Sellers
90-Day Summary
0
Shares Bought
99,189
Shares Sold
9
Transactions
Most Recent Transaction
Saroj Namrata (Chief Business Officer) sold 35,370 shares @ $6.55 on November 5, 2026

Insider selling at Ocular Therapeutix over the past 90 days can reflect routine portfolio management, scheduled trading plans (Rule 10b5-1), tax planning, or compensation-related dispositions rather than a directional view on the stock.

Based on SEC Form 4 filings over the last 90 days.

Financial Highlights

Ocular Therapeutix generated $52.0M in revenue in FY2025, retaining a 87.4% gross margin, operating income reached -$270.0M, and net income was -$265.9M. Diluted earnings per share stood at -$1.42. The company generated -$204.9M in operating cash flow. The current ratio was 15.39, measuring current assets divided by current liabilities.

$52.0M
Revenue (FY2025)
-$265.9M
Net Income (FY2025)
-$204.9M
Operating Cash Flow

Upcoming Events

NOV
17
November 17, 2026 Marketing

UBS fireside chat

UBS fireside chat in London on Nov 17 with CEO Pravin U. Dugel; live webcast and replay available for at least 30 days.
DEC
01
December 1, 2026 Corporate

First RSU and option vesting

First RSU vesting (1/3) and 25% option vesting; subsequent monthly/annual vesting thereafter
YEAR
2027
2027 Product

AXPAXLI potential launch

Potential commercial launch of AXPAXLI in 2027 if approved; Ocular Therapeutix advancing commercial readiness and Phase 3 support activities.
H1
2027
H1 2027 Clinical

SOL-R topline results

Topline data for SOL-R wet AMD registrational trial (555 subjects)
H1
2027
H1 2027 Clinical

SOL-R data readout

SOL-R clinical trial data readout expected for AXPAXLI
H1
2027
H1 2027 Clinical

SOL-R trial results

Results for SOL-R non-inferiority Phase 3 trial in wet AMD
H1
2027
H1 2027 Clinical

SOL-R topline data readout

Topline data readout for SOL-R Phase 3 trial
JAN
21
January 21, 2027 Corporate

Options first vesting

25% of 416,000 options vest (exercise $11.42, ten-year term).
JAN
21
January 21, 2027 Corporate

RSU first vesting

First installment of 136,000 restricted stock units vests.
FEB
02
February 2, 2027 Corporate

First-year vesting

25% of options vest and first annual RSU installment vests; remaining options vest monthly per plan
MAR
06
March 6, 2027 Corporate

First RSU vesting

First RSU installment vests Mar 6, 2027; total 19,975 RSUs; three-year vesting schedule
AUG
03
August 3, 2027 Corporate

Options first vest

25% of inducement options (53,975 shares) vest on 2027-08-03; exercise price $8.40 per share; ten-year term applies.
AUG
03
August 3, 2027 - August 3, 2030 Corporate

Options monthly vesting

Remaining 75% of inducement options vest monthly from 2027-08-03 through 2030-08-03; exercise price $8.40; ten-year term.
AUG
03
August 3, 2027 - August 3, 2029 Corporate

RSU annual vesting

17,450 inducement RSUs vest in three equal annual installments starting 2027-08-03 through 2029-08-03; subject to continued service.
AUG
10
August 10, 2027 Corporate

RSU 1st vesting

First annual vesting of 28,000 RSUs (one-third) awarded to SVP Beth Rada under 2019 Inducement Plan, effective Aug 10, 2026.
SEP
14
September 14, 2027 - September 14, 2030 Corporate

Employee Option Vesting

Options for up to 64,850 shares begin vesting 2027-09-14 and continue monthly over remaining 3 years through 2030-09-14.
SEP
14
September 14, 2027 - September 14, 2029 Corporate

RSU Vesting Schedule

RSUs for 21,350 shares vest in three equal annual installments on 2027-09-14, 2028-09-14 and 2029-09-14.
Q1
2028
Q1 2028 Clinical

SOL-R topline results

SOL-R topline efficacy results expected; trial masked to Week 96; will assess secondary endpoints versus aflibercept.
FEB
02
February 2, 2028 Corporate

Second RSU vesting

Second annual RSU installment vests (per 3-year RSU schedule from 2026-02-02)
AUG
10
August 10, 2028 Corporate

RSU 2nd vesting

Second annual vesting of 28,000 RSUs (one-third) to Beth Rada under the 2019 Inducement Plan; impacts potential share dilution.
FEB
02
February 2, 2029 Corporate

Final RSU vesting

Final annual RSU installment vests (per 3-year RSU schedule from 2026-02-02)
AUG
10
August 10, 2029 Corporate

RSU final vesting

Final annual vesting of 28,000 RSUs (one-third) to Beth Rada under inducement award, converting to common shares upon vesting.
NOV
02
November 2, 2029 Corporate

RSU vesting completion

Final vesting of RSUs granted Nov 2, 2026 representing 11,725 shares; potential dilution and taxable events for grantees.
AUG
10
August 10, 2030 Corporate

Option full vesting

Options to purchase up to 85,000 shares vest fully under a four-year schedule from the Aug 10, 2026 effective date.
NOV
02
November 2, 2030 Corporate

Options vesting completion

Final vesting of options granted Nov 2, 2026 to purchase up to 35,775 shares (10-year term; $6.73 exercise price).
DEC
01
December 1, 2035 Corporate

Option expiration (10-year)

10-year term expiry for options granted Dec 1, 2025; $11.71 exercise price
FEB
02
February 2, 2036 Corporate

Option expiration

Ten-year option term ends for granted non‑statutory options (granted effective 2026-02-02)
AUG
10
August 10, 2036 Corporate

Option expiration

Ten-year term expiration of non-statutory option to buy 85,000 shares at $9.24 per share, awarded Aug 10, 2026.

Ocular Therapeutix has 28 upcoming scheduled events. The next event, "UBS fireside chat", is scheduled for November 17, 2026 (in 2 days). Investors can track these dates to stay informed about potential catalysts that may affect the OCUL stock price.

Short Interest History

Last 12 Months

Short interest in Ocular Therapeutix (OCUL) currently stands at 29.0 million shares, up 0.8% from the previous reporting period, representing 13.5% of the float. Since November 2025, short interest has increased by 149.3%.

Days to Cover History

Last 12 Months

Days to cover for Ocular Therapeutix (OCUL) currently stands at 10.1 days, up 25.2% from the previous period. The ratio is the reported short interest divided by the average daily trading volume. Since November 2025, the figure has increased by 166.8%. Across the settlements charted above, it has ranged from 1.4 to 14.2 days.

OCUL Company Profile & Sector Positioning

Ocular Therapeutix (OCUL) operates in the Biotechnology industry within the broader Healthcare sector and is listed on the NASDAQ.

Investors comparing OCUL often look at related companies in the same sector, including Mineralys Therapeutics, Inc. (MLYS), Mannkind Corporation (MNKD), GH Research PLC (GHRS), Nektar Therapeutics (NKTR), and Structure Therapeutics Inc. (GPCR). Comparing financial metrics, valuation ratios, and stock performance across these peers can help investors evaluate OCUL's relative position within its industry.

Frequently Asked Questions

The current stock price of Ocular Therapeutix (OCUL) is $6.26 in after-hours trading as of November 13, 2026.

The market cap of Ocular Therapeutix (OCUL) is approximately $1.4B. Learn more about what market capitalization means .

The FY2025 revenue of Ocular Therapeutix (OCUL) is $52.0M, from its most recent completed fiscal year.

The FY2025 net income of Ocular Therapeutix (OCUL) is -$265.9M, from its most recent completed fiscal year.

The diluted earnings per share (EPS) of Ocular Therapeutix (OCUL) is -$1.42 for FY2025, its most recent completed fiscal year. Learn more about EPS .

The operating cash flow of Ocular Therapeutix (OCUL) is -$204.9M for FY2025, its most recent completed fiscal year. Learn about cash flow.

The gross profit margin of Ocular Therapeutix (OCUL) is 87.4% for FY2025, its most recent completed fiscal year. Learn about gross margins.

The current ratio of Ocular Therapeutix (OCUL), current assets divided by current liabilities, was 15.39 at the end of FY2025, its most recent completed fiscal year. Learn about liquidity ratios.

The gross profit of Ocular Therapeutix (OCUL) is $45.4M for FY2025, its most recent completed fiscal year.

The operating income of Ocular Therapeutix (OCUL) is -$270.0M for FY2025, its most recent completed fiscal year. Learn about operating income.

Ocular Therapeutix, Inc. is an integrated biopharmaceutical company focused on diseases and conditions of the eye. It develops and commercializes ophthalmic therapies that use its ELUTYX bioresorbable hydrogel-based formulation technology, including the investigational retinal therapy AXPAXLI (also known as OTX-TKI) and the FDA-approved corticosteroid product DEXTENZA.

AXPAXLI (also known as OTX-TKI) is an investigational, bioresorbable, intravitreal hydrogel that incorporates axitinib, a small-molecule, multi-target tyrosine kinase inhibitor with anti-angiogenic properties. Ocular Therapeutix is evaluating AXPAXLI for the treatment of wet age-related macular degeneration, non-proliferative diabetic retinopathy, diabetic retinopathy more broadly, and other retinal diseases in multiple Phase 3 clinical programs.

SOL-1 and SOL-R are registrational Phase 3 clinical trials of AXPAXLI in wet age-related macular degeneration (wet AMD). SOL-1 is a superiority trial comparing a single injection of AXPAXLI 450 µg to a single injection of aflibercept 2 mg, while SOL-R is a non-inferiority trial evaluating AXPAXLI 450 µg dosed every 24 weeks versus aflibercept 2 mg dosed every eight weeks.

HELIOS-2 and HELIOS-3 are Phase 3 clinical trials in the HELIOS program for AXPAXLI in non-proliferative diabetic retinopathy (NPDR). HELIOS-2 is a multi-center, double-masked, randomized (1:1) superiority trial comparing AXPAXLI 450 µg to ranibizumab 0.3 mg, and HELIOS-3 is a three-arm superiority trial comparing different AXPAXLI dosing regimens to sham. Both use an ordinal two-step diabetic retinopathy severity score (DRSS) change at Week 52 as the primary endpoint.

DEXTENZA is a commercial product from Ocular Therapeutix described as an FDA-approved corticosteroid for the treatment of ocular inflammation and pain following ophthalmic surgery in adults and pediatric patients, and for ocular itching associated with allergic conjunctivitis in adults and pediatric patients aged two years or older. It leverages the company’s ELUTYX hydrogel technology for ophthalmic drug delivery.

OTX-TIC is an investigational travoprost intracameral hydrogel in the Ocular Therapeutix pipeline. It has completed a Phase 2 clinical trial for the treatment of open-angle glaucoma or ocular hypertension, and the company has stated that it is evaluating next steps for this program.

According to the company’s SEC filings, Ocular Therapeutix, Inc. has its common stock registered on The Nasdaq Global Market under the trading symbol OCUL.

ELUTYX is Ocular Therapeutix’s proprietary bioresorbable hydrogel-based formulation technology used to deliver therapeutic agents to the eye. The company states that AXPAXLI and OTX-TIC are based on this platform, and that its commercial product DEXTENZA also leverages ELUTYX technology.

Ocular Therapeutix reports that it is conducting the SOL-1 and HELIOS-2 trials for AXPAXLI under Special Protocol Assessment (SPA) agreements with the U.S. Food and Drug Administration. It also notes written FDA feedback on the SOL-R trial design and has indicated plans to pursue the 505(b)(2) regulatory pathway for AXPAXLI in wet AMD, based on axitinib’s prior approval in non-ophthalmic indications.