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Wednesday, Stifel analysts reiterated a Buy rating and a $35.00 price target on Oculis Holding AG (NASDAQ:OCS) shares, representing an 86% upside from the current price of $18.83. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $21.95 to $36.91. The endorsement follows Oculis’ announcement of positive results from the Phase 2 ACUITY trial for its drug OCS-05/privosegtor, which is being evaluated for the treatment of acute optic neuritis (AON). The trial’s outcome has positioned privosegtor as the first neuroprotective agent to demonstrate both anatomical and functional benefits in an optic condition.
Oculis is preparing to meet with the FDA in the second half of 2025 for an End of Phase 2 (EOP2) discussion to determine the future steps for the OCS-05 program. Earlier in the first quarter of 2025, the company had a productive interaction with the FDA that confirmed a clear path forward for another of its products, OCS-02/licaminlimab. This dialogue with the agency also included agreement on a precision medicine approach for treating Dry Eye Disease (DED).
Additionally, Oculis is progressing with the Phase 3 DIAMOND program for OCS-01, aimed at post-ocular surgery treatments, with New Drug Application (NDA) readiness expected to conclude in the first quarter of 2025. Further details about the company’s clinical progress are anticipated during an R&D Day scheduled for April 15, 2025.
Financially, Oculis concluded the year 2024 with well-managed expenses, reporting research and development costs of $13.4 million and general and administrative expenses of $6.3 million. The company’s fiscal situation appears stable, with cash and equivalents totaling $109 million at the end of the fourth quarter of 2024, bolstered by a recent financing round that raised an additional $93 million. This funding is projected to sustain the company’s operations into early 2028. InvestingPro analysis confirms the company’s strong liquidity position, with a current ratio of 4.02 and more cash than debt on its balance sheet. Subscribers to InvestingPro can access 8 additional key financial insights about Oculis’s financial health and market position.
In other recent news, Oculis Holding AG has garnered attention following the release of promising results from its ACUITY trial for OCS-05, a potential treatment for acute optic neuritis (AON). The trial, conducted in France, successfully met its primary safety endpoints and demonstrated significant improvements in both anatomical and functional vision. These results have led to the U.S. FDA granting an Investigational New Drug (IND) clearance, allowing Oculis to advance its treatment development. Analysts from both H.C. Wainwright and Stifel have maintained their Buy ratings for Oculis, with price targets of $30 and $35, respectively, highlighting confidence in the company’s progress.
H.C. Wainwright’s Yi Chen emphasized the potential of OCS-05 as a neuroprotective treatment, with plans to initiate a Phase 2b trial in the United States by 2025. Stifel analysts noted the potential applicability of OCS-05 for other neuro-ophthalmic and neurological conditions, including multiple sclerosis, and praised the trial’s success in improving ganglion cell and retinal nerve thickness. Oculis is also exploring additional formulations of OCS-05 to address chronic conditions such as glaucoma and diabetic retinopathy, potentially expanding its market reach.
These developments underscore Oculis’s commitment to addressing unmet needs in optic nerve-related disorders. The company’s efforts to broaden the treatment’s applicability could provide new therapeutic options for conditions with limited current treatments. The positive reception from analysts reflects a strong belief in the therapeutic potential and market opportunity for OCS-05.
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