Oculis Stock Shock: Eye-Drop Trial Miss Sends Shares Sliding
Oculis Holding AG shares fell sharply on Friday after the Swiss eye-drug developer said two late-stage trials of its OCS-01 eye drops failed to meet their main goal in diabetic macular edema, a diabetes-linked swelling in the retina that can damage sight. The company said it does not currently plan to pursue a U.S. Food and Drug Administration filing for the drug in that indication. The stock closed regular trading on Nasdaq at $22.70, down 23.4%, with volume around 2.76 million shares, far above its average volume of about 473,000. MarketWatch showed the shares at $18.35 in after-hours trading at 4:50 p.m. EDT, a further 19.2% drop from the close.