[6-K] Oculis Holding AG Current Report (Foreign Issuer)
Rhea-AI Filing Summary
Oculis Holding reported a 2025 net loss of CHF 99.0 million (vs. CHF 85.8 million in 2024) as it stepped up investment in its late‑stage pipeline. Cash, cash equivalents and short‑term investments rose to CHF 213.0 million, or $268.7 million, helped by $210.0 million of equity financings in February and November 2025, giving a cash runway into 2029.
During 2025, the company obtained FDA Breakthrough Therapy designation for Privosegtor in optic neuritis and initiated the PIONEER‑1 registrational trial. Both Phase 3 DIAMOND trials of OCS‑01 in diabetic macular edema enrolled over 800 patients, with topline data expected in Q2 2026 and a possible NDA in Q4 2026 if results are positive. Oculis also launched the genotype‑based PREDICT‑1 registrational trial of Licaminlimab in dry eye disease, with topline results targeted for Q4 2026.
Positive
- Strengthened cash position and extended runway: Cash, cash equivalents and short‑term investments increased to CHF 213.0 million (or $268.7 million) as of December 31, 2025, supported by $210.0 million of equity financings, giving a stated cash runway into 2029.
- Multiple late‑stage clinical value drivers: FDA Breakthrough Therapy designation for Privosegtor, ongoing Phase 3 DIAMOND trials for OCS‑01 with Q2 2026 topline, and the PREDICT‑1 registrational trial for Licaminlimab with Q4 2026 topline create several potential 2026 inflection points.
Negative
- Rising operating loss and net loss: Year‑to‑date net loss widened to CHF 99.0 million (or $119.1 million) from CHF 85.8 million (or $97.4 million) in 2024, driven by higher research and development and general and administrative expenses and increased foreign exchange revaluation loss.
Insights
Oculis strengthens its balance sheet while advancing three late‑stage ophthalmology programs toward key 2026 readouts.
Oculis ended 2025 with cash, cash equivalents and short‑term investments of CHF 213.0 million (or $268.7 million), up from CHF 98.7 million, mainly from $210.0 million of equity financings. Management indicates this supports a cash runway into 2029 while multiple registrational programs progress in parallel.
On the pipeline side, FDA Breakthrough Therapy designation for Privosegtor in optic neuritis and initiation of the PIONEER‑1 registrational trial mark a notable expansion into neuro‑ophthalmology. Both Phase 3 DIAMOND trials of OCS‑01 in diabetic macular edema and the PREDICT‑1 precision‑medicine trial for Licaminlimab in dry eye disease are designed to deliver topline results in Q2 2026 and Q4 2026, respectively. Subsequent disclosures around these milestones and any planned NDA submission for OCS‑01 in Q4 2026 will be central to assessing future value.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Month of March 2026
(Commission File No. 001-41636)
Oculis Holding AG
(Translation of registrant's name into English)
Bahnhofstrasse 20
CH-6300
Zug, Switzerland
(Address of registrant’s principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ |
Form 40-F ☐ |
INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K
On March 3, 2026, Oculis Holding AG (the “Registrant”) issued a press release announcing its financial results for the fiscal year ended December 31, 2025. The press release is furnished as Exhibit 99.1 to this Report on Form 6-K.
EXHIBIT INDEX
Exhibit |
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Description |
99.1 |
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Press Release dated March 3, 2026 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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OCULIS HOLDING AG |
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Date: March 3, 2026 |
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By: |
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/s/ Sylvia Cheung |
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Chief Financial Officer |
Exhibit 99.1
Oculis Reports Q4 and Full Year 2025 Financial Results and Provides Company Update
ZUG, Switzerland, March 3, 2026 -- Oculis Holding AG (Nasdaq: OCS / XICE: OCS) (Oculis), a global biopharmaceutical company focused on breakthrough innovations to address significant unmet medical needs in ophthalmology and neuro-ophthalmology, today announced results for the fourth quarter and full year ended December 31, 2025, and provided an overview of the Company’s progress.
Riad Sherif, M.D., Chief Executive Officer of Oculis, stated “Oculis has delivered a transformative 2025, marked by significant clinical progress across our late-stage portfolio and a strategic expansion into neuro-ophthalmology. The compelling Phase 2 ACUITY results for Privosegtor in optic neuritis led to a pivotal FDA Breakthrough Therapy designation and anchored the launch of our global PIONEER registrational program. We believe Privosegtor holds immense potential as a first-in-class neuroprotective platform for a range of neuro-axonal diseases. 2026 is positioned to be a landmark year for the company with a roadmap featuring three major expected registrational milestones: the DIAMOND-1 and DIAMOND-2 trials readout with OCS-01, a potential first-in-class eye drop in DME, anticipated in Q2, the PREDICT-1 trial results for Licaminlimab with a precision medicine approach in dry eye disease planned in Q4, and the commencement of three registrational trials with Privosegtor as part of the PIONEER program. The operational excellence and significant milestones we achieved in 2025 have uniquely positioned Oculis to drive innovation in areas of high unmet medical need, a potential market opportunity of over $30 billion, with the aim of redefining the standard of care in ophthalmology and neuro-ophthalmology.”
Recent Clinical Highlights and Upcoming Milestones:
Privosegtor:
Exhibit 99.1
OCS-01:
Licaminlimab:
Q4 and Full Year 2025 Financial Highlights:
As of December 31, 2025, Oculis held cash, cash equivalents and short-term investments of CHF 213.0 million or $268.7 million, compared to CHF 98.7 million or $109.0 million as of December 31, 2024. The increase in cash, cash equivalents and short-term investments was primarily due to equity financings closed in February and November 2025 for aggregate gross proceeds of $210.0 million (CHF 178.9 million). Research and development expenses were CHF 13.3 million or $16.6 million for the three months ended December 31, 2025, compared to CHF 11.8 million or $13.4 million in the same period in 2024. The increase was primarily due to advancements in clinical development activities of our late-stage portfolio and associated personnel expenses. General and administrative expenses were CHF 7.8 million or $9.7 million for the three months ended December 31, 2025, compared to CHF 5.5 million or $6.3 million in the same period in 2024. The increase was primarily driven by personnel expenses and external professional services costs. Year-to-date net loss was CHF 99.0 million or $119.1 million for the year ended December 31, 2025, compared to CHF 85.8 million or $97.4 million for the same period in 2024. The increase was primarily due to an increase in operating expenses driven by the OCS-01 Phase 3 DIAMOND trials, increased personnel costs and a CHF 7.4 million or $8.9 million increase in foreign exchange revaluation loss, offset by a CHF 3.2 million or $3.9 million decrease in the non-cash fair value adjustment on warrant liabilities resulting from warrant exercises during the year offset by increases in the fair value of outstanding warrants.
Upcoming Events:
Medical Conferences and Industry Events
Exhibit 99.1
Investor Conferences
Exhibit 99.1
Consolidated Statements of Financial Position (Unaudited)
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(Amounts in CHF thousands) |
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As of December 31, |
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As of December 31, |
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2025 |
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2024 |
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ASSETS |
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Non-current assets |
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Property and equipment |
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534 |
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385 |
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Intangible assets |
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13,292 |
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13,292 |
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Right-of-use assets |
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2,463 |
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1,303 |
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Other non-current assets |
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785 |
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476 |
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Total non-current assets |
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17,074 |
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15,456 |
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Current assets |
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Other current assets |
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4,883 |
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5,605 |
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Accrued income |
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993 |
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629 |
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Short-term financial assets |
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131,684 |
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70,955 |
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Cash and cash equivalents |
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81,329 |
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27,708 |
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Total current assets |
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218,889 |
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104,897 |
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TOTAL ASSETS |
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235,963 |
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120,353 |
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EQUITY AND LIABILITIES |
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Shareholders' equity |
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Share capital |
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587 |
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446 |
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Share premium |
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551,731 |
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344,946 |
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Reserve for share-based payment |
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30,387 |
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16,062 |
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Actuarial loss on post-employment benefit obligations |
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(1,634 |
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(2,233 |
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Treasury shares |
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(7 |
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(10 |
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Cumulative translation adjustments |
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(480 |
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(271 |
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Accumulated losses |
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(384,514 |
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(285,557 |
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Total equity |
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196,070 |
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73,383 |
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Non-current liabilities |
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Long-term lease liabilities |
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1,811 |
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865 |
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Defined benefit pension liabilities |
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1,335 |
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1,870 |
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Total non-current liabilities |
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3,146 |
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2,735 |
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Current liabilities |
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Trade payables |
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1,800 |
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5,871 |
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Accrued expenses and other payables |
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19,967 |
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18,198 |
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Short-term lease liabilities |
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502 |
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315 |
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Warrant liabilities |
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14,478 |
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19,851 |
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Total current liabilities |
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36,747 |
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44,235 |
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Total liabilities |
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39,893 |
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46,970 |
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TOTAL EQUITY AND LIABILITIES |
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235,963 |
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120,353 |
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Exhibit 99.1
Consolidated Statements of Loss (Unaudited)
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For the three months |
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For the twelve months |
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(Amounts in CHF thousands, except per share data) |
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2025 |
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2024 |
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2025 |
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2024 |
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Grant income |
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411 |
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3 |
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1,199 |
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686 |
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Operating income |
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411 |
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3 |
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1,199 |
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686 |
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Research and development expenses |
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(13,288 |
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(11,763 |
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(57,085 |
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(52,083 |
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General and administrative expenses |
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(7,756 |
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(5,500 |
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(25,786 |
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(21,807 |
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Operating expenses |
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(21,044 |
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(17,263 |
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(82,871 |
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(73,890 |
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Operating loss |
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(20,633 |
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(17,260 |
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(81,672 |
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(73,204 |
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Finance income |
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319 |
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371 |
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1,770 |
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2,168 |
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Finance expense |
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(241 |
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(247 |
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(833 |
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(639 |
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Fair value adjustment on warrant liabilities |
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(3,238 |
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(13,387 |
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(12,294 |
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(15,531 |
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Foreign currency exchange gain (loss) |
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97 |
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1,630 |
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(6,114 |
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1,269 |
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Finance result |
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(3,063 |
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(11,633 |
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(17,471 |
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(12,733 |
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Loss before tax for the period |
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(23,696 |
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(28,893 |
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(99,143 |
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(85,937 |
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Income tax benefit (expense) |
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182 |
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238 |
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186 |
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160 |
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Loss for the period |
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(23,514 |
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(28,655 |
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(98,957 |
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(85,777 |
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Loss per share: |
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Basic and diluted loss attributable to equity holders |
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(0.42 |
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(0.67 |
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(1.89 |
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(2.12 |
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-ENDS-
Exhibit 99.1
About Oculis
Oculis is a global biopharmaceutical company (Nasdaq: OCS; XICE: OCS) focused on breakthrough innovations to address significant unmet medical needs in neuro-ophthalmology and ophthalmology. Oculis’ highly differentiated late-stage clinical pipeline includes three core product candidates: Privosegtor, a breakthrough neuroprotective candidate in the PIONEER program which consists of studies intended to support registration plans for treatment in optic neuropathies like optic neuritis (ON) and non-arteritic anterior ischemic optic neuropathy (NAION), with potentially broad clinical applications in various other neuro-ophthalmic and neurological diseases; OCS-01, an eye drop in pivotal registration studies, aiming to become the first non-invasive topical treatment for diabetic macular edema (DME); and Licaminlimab, a novel, topical anti-TNFα in registrational trial, which is being developed with a genotype-based approach to drive precision medicine in dry eye disease (DED). Headquartered in Switzerland with operations in the U.S. and Iceland, Oculis is led by an experienced management team with a successful track record and supported by leading international healthcare investors.
For more information, please visit: www.oculis.com
Oculis Contact
Ms. Sylvia Cheung, CFO
sylvia.cheung@oculis.com
Investor Relations
LifeSci Advisors
Corey Davis, Ph.D.
cdavis@lifesciadvisors.com
Media Relations
ICR Healthcare
Amber Fennell / David Daley / Sean Leous
oculis@icrhealthcare.com
Cautionary Statement Regarding Forward Looking Statements
This press release contains forward-looking statements and information. For example, statements regarding the potential benefits of the Company’s product candidates, the initiation, timing, progress and results of current and future clinical trials, Oculis’ research and development programs, regulatory and business strategy; Oculis’ future development plans; the timing or likelihood of regulatory filings and approvals; statements about market opportunity, and the Company’s expected financial position and cash runway, are forward-looking. All forward-looking statements are based on estimates and assumptions that, while considered reasonable by Oculis and its management, are inherently uncertain and are inherently subject to risks, variability, and contingencies, many of which are beyond Oculis’ control. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, assurance, prediction or definitive statement of a fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. All forward-looking statements are subject to risks,
Exhibit 99.1
uncertainties and other factors that may cause actual results to differ materially from those that we expected and/or those expressed or implied by such forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Oculis, including those set forth in the Risk Factors section of Oculis’ annual report on Form 20-F and any other documents filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. Oculis undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
References:
Filing Exhibits & Attachments
1 documentPress Releases
