Catalyst Dossier · compiled by CeliA 🧫

Ocular Therapeutix, Inc. (OCUL)

Pharmaceutical Preparations · market cap $2.1B · as of 2026-07-01

Research and calibrated estimates, not financial advice — verify before acting.

Next catalyst

2026-08-04

Earnings

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Ocular Therapeutix (OCUL) is a ~$2.15B market-cap ophthalmic biotech with 274 employees and a broad pipeline of sustained-release drug-delivery platforms targeting post-surgical pain, glaucoma, dry eye, and retinal diseases. The company holds $666.7M in cash (~30 months runway) and has no marketed blockbuster product, with 2025 revenues of only $52M against a $266M net loss and $197M R&D spend. The investment story hinges almost entirely on two high-importance Phase 3 readouts — an aflibercept intravitreal program and the axitinib (OTX-TKI/Axpaxli) implant for wet AMD — expected in early-to-mid 2027.

The catalyst path

2026-08-04Earningsimp 5/10
2027-01-08 (est.)Phase 3 · Afliberceptimp 9/10
2027-03-15 (est.)Phase 3 · Single intravitreal injection of axitinib hydrogel implant followed by a mock (sham) injection procedure at Week 24imp 9/10
2027-06-12 (est.)PDUFA · Axpaxliimp 8/10

Pipeline

Asset	Phase	Indication
Dexamethasone	Phase 3	Post-Surgical Ocular Pain
OTX-TKI (axitinib implant)	Phase 3	Neovascular Age-Related Macular Degeneration
OTX-TP	Phase 2	Glaucoma
Punctum Plug	Phase 3	Post Ocular Surgical Inflammation and Pain
OTX-CSI	Phase 2	Dry Eye Disease
OTX-DED	Phase 2	Dry Eye
Single intravitreal injection of axitinib hydrogel implant followed by a mock (sham) injection procedure at Week 24	Phase 3	Non-Proliferative Diabetic Retinopathy
Ophthalmic Insert	Phase 3	Open Angle Glaucoma and Ocular Hypertension
OTX-TIC low dose Travoprost Intracameral Implant	Phase 2	Open Angle Glaucoma
Dextenza Ophthalmic Insert	Phase 3	Cataract
Travoprost	Phase 3	Open Angle Glaucoma
OTX-DP (Dexamethasone punctum plug)	Phase 2	Ocular Inflammation and Pain
Dexamethasone, 0.4mg	Phase 3	Allergic Conjunctivitis
Controlled Insertion	Phase 2	Dry Eye Syndromes
Aflibercept	Phase 3	Neovascular Age-related Macular Degeneration

Price & technical context

3-month

+15.7%

6-month

-21.0%

12-month

+0.2%

52-wk range

$6.88–$16.11

vs 50-day MA

+5.4%

vs 200-day MA

-7.1%

Realized vol

68.9%

Max drawdown

-57.3%

Daily closes through 2026-07-02. Realized vol annualized; max drawdown over ~2 years.

The full dossier is a Pro feature

Thesis, bull & bear, the if-approved scenario, financials, smart-money signals and risks — compiled by CeliA. The catalyst path & pipeline above are free.

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Sources & data

SEC filings — EDGAR filings for OCUL (10-K, 10-Q, S-3, 13D/G, Form 4)
Clinical trials — 15 registered trials on ClinicalTrials.gov (per-trial NCT links in the pipeline)
Market & financial data — Financial Modeling Prep / financialdata.net — prices, statements, key metrics, insider & institutional filings.
Regulatory — openFDA, FDA advisory & PDUFA calendars.

Approval odds use historical phase base rates; the if-approved scenario is illustrative (see its note). Figures trace to the sources above — verify before acting.

Data from CatalystAlert (ClinicalTrials.gov, SEC EDGAR, openFDA, Financial Modeling Prep). Compiled by CeliA. Not financial advice.