Ocular Therapeutix chief development officer sells shares for $20,671

Published 27/02/2025, 00:28
Ocular Therapeutix chief development officer sells shares for $20,671

BEDFORD, MA—Peter Kaiser, Chief Development Officer at Ocular Therapeutix, Inc. (NASDAQ:OCUL), a $1.06 billion market cap biotechnology company, recently executed a sale of company stock. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 13.01. According to a Form 4 filing with the Securities and Exchange Commission, Kaiser sold 3,009 shares of common stock on February 24, 2025. The shares were sold at a weighted average price of $6.87, generating a total of $20,671.

The transaction was part of a predetermined plan to cover tax obligations stemming from the vesting of restricted stock units. Following the sale, Kaiser retains direct ownership of 210,078 shares of Ocular Therapeutix. The stock was sold in multiple transactions with prices ranging between $6.78 and $6.97.

In other recent news, Ocular Therapeutix has made notable progress in its clinical trials for Axpaxli, a treatment for wet age-related macular degeneration (AMD (NASDAQ:AMD)). The company’s Phase 3 SOL-1 trial has successfully randomized over 300 patients, with topline data expected in the fourth quarter of 2025. The SOL-R trial is also experiencing accelerated enrollment, as the company works to activate more clinical trial sites globally. In addition, Raymond (NSE:RYMD) James maintained a Strong Buy rating with a $19.00 price target, while H.C. Wainwright reaffirmed a Buy rating with a $15.00 price target, reflecting optimism about Ocular Therapeutix’s clinical advancements and potential market demand for Axpaxli.

Furthermore, Baird reiterated an Outperform rating with a $17.00 price target, highlighting the underappreciated potential for Axpaxli in the wet AMD market. The company is also planning to consult with the FDA on trial designs for Axpaxli in non-proliferative diabetic retinopathy (NPDR) during the first half of 2025. Additionally, Ocular Therapeutix announced a revised compensation package for its CEO, Pravin Dugel, M.D., effective from February 2025, which includes long-term equity awards contingent upon stock price performance hurdles. These developments underscore the company’s commitment to advancing its clinical programs and aligning executive incentives with shareholder interests.

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