Biopharmaceutical company Ocular Therapeutix, Inc. (OCUL) announced Tuesday the pricing of an underwritten offering of 37.9 million shares of its common stock at an offering price of $12.53 per share for gross proceeds of approximately $475.0 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.
All of the shares in the offering are to be sold by the Company. The offering is expected to close on or about October 1, 2025, subject to the satisfaction of customary closing conditions.
The Company expects to use the net proceeds from this offering, together with its existing cash and cash equivalents, to fund its planned open-label extension study for AXPAXLI in patients with wet age-related macular degeneration.
It will also fund its planned Phase 3 clinical trials of AXPAXLI for the treatment of non-proliferative diabetic retinopathy (NPDR), and used for investments in infrastructure, including capital expenditures to support manufacturing and for pre-commercialization activities associated with AXPAXLI, if approved.
Further, the proceeds will be used for working capital and other general corporate purposes.
BofA Securities, TD Cowen and Piper Sandler & Co. are acting as joint book-running managers for the offering. Baird and Raymond James are acting as lead managers for the offering, and Citizens Capital Markets and H.C. Wainwright & Co. are acting as co-managers for the offering.
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