Ocular Therapeutix Has 75% Success Probability for Axpaxli in Wet Age-Related Macular Degeneration, UBS Says

MT Newswires Live00:03

Ocular Therapeutix's (OCUL) probability of success for its Axpaxli drug in wet age-related macular degeneration, or wAMD, is still 75%, UBS analysts said in a Monday note.

The note comes after EyePoint Pharmaceuticals (EYPT) said that late-stage trials of Duravyu in wAMD failed to meet the primary endpoint.

Ocular's management argued that despite failing to meet the endpoint, EyePoint's trials support continued biologic activity of the tyrosine kinase inhibitor mechanism, noting that Duravyu showed efficacy signals.

The company viewed Duravyu as Axpaxli's most direct maintenance therapy competitor in wAMD and viewed the outcome as incrementally positive for its competitive positioning.

UBS maintained a buy rating and a $14 price target on the stock.

Price: 6.73, Change: +0.44, Percent Change: +7.00

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