Ocular Therapeutix, Inc. (OCUL), a pioneering biopharmaceutical company dedicated to advancing vision-related therapies, has disclosed its strategic move to enhance its research and development endeavors. The company has entered into a securities purchase agreement with institutional accredited investors, aiming to secure approximately $325.0 million in aggregate gross proceeds through a private placement.
This placement, attracting both new and existing investors such as Venrock Healthcare Capital Partners and Perceptive Advisors, underscores confidence in Ocular Therapeutix’s innovative vision care solutions. The private placement involves the issuance of 32,413,560 shares of common stock at $7.52 per share, alongside pre-funded warrants to purchase up to 10,805,957 shares of common stock.
Expected to close on February 26, 2024, pending customary closing conditions, BofA Securities acts as the sole placement agent for the transaction. The infusion of funds will fuel the accelerated clinical development of AXPAXLI™, particularly advancing its pivotal Phase 3 clinical trials for treating wet AMD.
These proceeds will also support Ocular Therapeutix’s broader clinical programs and bolster its financial position for future growth initiatives. With a clear focus on innovation and clinical advancement, Ocular Therapeutix remains steadfast in its mission to revolutionize eye care treatments and improve patients’ quality of life.
