Ocular Therapeutix™ Announces Proposed Public Offering of Common Stock
13 Dezembro 2023 - 6:01PM
Ocular Therapeutix™, Inc. (Nasdaq: OCUL) (the “Company”), a
biopharmaceutical company focused on the formulation, development,
and commercialization of innovative therapies for diseases and
conditions of the eye, today announced that it has commenced an
underwritten public offering of its common stock. In addition, the
Company is expected to grant the underwriters of the offering a
30-day option to purchase up to an additional 15% of the number of
shares of common stock offered in the offering. All of the shares
in the proposed offering are to be sold by the Company. The
proposed offering is subject to market and other conditions, and
there can be no assurance as to whether or when the offering may be
completed or as to the actual size or terms of the offering.
Jefferies, BofA Securities and Piper Sandler &
Co. are acting as joint book-running managers for the proposed
offering.
The Company intends to use the net proceeds from
the proposed offering, together with its existing cash and cash
equivalents, to fund the Phase 3 clinical development of AXPAXLI
for the treatment of wet AMD, including its ongoing SOL pivotal
Phase 3 clinical trial and its planned second Phase 3 clinical
trial; to support its other clinical development programs; and for
working capital and other general corporate purposes.
The proposed offering is being made pursuant to a
shelf registration statement on Form S-3 that was previously filed
with and declared effective by the Securities and Exchange
Commission (SEC). This offering will be made only by means of a
prospectus supplement and the accompanying prospectus that form a
part of the registration statement. A preliminary prospectus
supplement relating to and describing the terms of the public
offering is expected to be filed with the SEC. Before investing in
the offering, interested parties should read the prospectus
supplement and the accompanying prospectus for the proposed
offering and the other documents the Company has filed with the
SEC, which are incorporated by reference in the prospectus
supplement and the accompanying prospectus for the offering and
which provide more complete information about the Company and the
offering. Electronic copies of the preliminary prospectus
supplement and the accompanying prospectus for the offering, if and
when filed, will be available on the website of the SEC at
www.sec.gov. Copies of the preliminary prospectus supplement and
the accompanying prospectus relating to this offering may also be
obtained, when available, by contacting Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, New
York, NY 10022, by telephone: (877) 821-7388, or by email:
prospectus_department@Jefferies.com; BofA Securities, Attention:
Prospectus Department, NC1-022-02-25, 201 North Tryon Street,
Charlotte, NC 28255-0001, or by email:
dg.prospectus_requests@bofa.com; or Piper Sandler & Co.,
Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, by telephone: (800) 747-3924, or by email:
prospectus@psc.com. The final terms of the proposed offering will
be disclosed in a final prospectus supplement to be filed with the
SEC.
This press release shall not constitute an offer to
sell or a solicitation of an offer to buy, nor shall there be any
sale of these securities, in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful, prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Ocular Therapeutix,
Inc. Ocular Therapeutix, Inc. is a biopharmaceutical
company focused on the formulation, development, and
commercialization of innovative therapies for diseases and
conditions of the eye using its proprietary bioresorbable
hydrogel-based formulation technology ELUTYX™. Ocular Therapeutix’s
first commercial drug product, DEXTENZA®, is an FDA-approved
corticosteroid for the treatment of ocular inflammation and pain
following ophthalmic surgery and ocular itching associated with
allergic conjunctivitis. Ocular Therapeutix’s earlier stage
development assets include: AXPAXLI (axitinib intravitreal
implant), currently in a pivotal Phase 3 trial for wet AMD and a
Phase 1 clinical trial for the treatment of diabetic retinopathy;
OTX-TIC (travoprost intracameral implant), currently in a Phase 2
clinical trial for the treatment of primary open-angle glaucoma or
ocular hypertension; and OTX-CSI (cyclosporine intracanalicular
insert) for the chronic treatment of dry eye disease and OTX-DED
(dexamethasone intracanalicular insert) for the short-term
treatment of the signs and symptoms of dry eye disease, both of
which have completed Phase 2 clinical trials.
Cautionary Note Regarding Forward-Looking
StatementsAny statements in this press release about
future expectations, plans, and prospects for the Company,
including the Company’s expectations and plans regarding the
proposed underwritten public offering, including structure and
completion of the proposed offering, the Company’s anticipated use
of proceeds of the offering, the grant to the underwriters of an
option to purchase additional shares, and other statements
containing the words “anticipate,” “believe,” “estimate,” “expect,”
“intend”, “goal,” “may”, “might,” “plan,” “predict,” “project,”
“target,” “potential,” “will,” “would,” “could,” “should,”
“continue,” and similar expressions, constitute forward-looking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995. Actual results may differ materially from those
indicated by such forward-looking statements as a result of various
important factors. Such forward-looking statements involve
substantial risks and uncertainties that could cause the Company’s
clinical development programs, future results, performance or
achievements to differ significantly from those expressed or
implied by the forward-looking statements. Such risks and
uncertainties include, among others, uncertainties related to
market conditions, the final terms of the proposed underwritten
offering, the satisfaction of customary closing conditions related
to the proposed underwritten public offering, the need for
additional financing or other actions and other factors discussed
in the “Risk Factors” section contained in the preliminary
prospectus supplement related to the proposed underwritten public
offering and the Company’s quarterly and annual reports on file
with the Securities and Exchange Commission. In addition, the
forward-looking statements included in this press release represent
the Company’s views as of the date of this press release. The
Company anticipates that subsequent events and developments will
cause the Company’s views to change. However, while the Company may
elect to update these forward-looking statements at some point in
the future, the Company specifically disclaims any obligation to do
so except as required by law. These forward-looking statements
should not be relied upon as representing the Company’s views as of
any date subsequent to the date of this press release.
Contacts:
InvestorsOcular TherapeutixDonald
NotmanChief Financial Officerdnotman@ocutx.com
or
Westwicke, an ICR CompanyChris Brinzey,
339-970-2843Managing Directorchris.brinzey@westwicke.com
MediaICR WestwickeBen Shannon,
443-213-0495ben.shannon@westwicke.com
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