2024-06-03 14:01:10 ET
Summary
- Ocular Therapeutix is a biopharmaceutical company with a successful commercial product, Dextenza, generating $57.9 million in revenue in 2023.
- The company's main value driver is Axpaxli, an axitinib intravitreal implant in phase 3 trials for wet age-related macular degeneration (wet AMD).
- The company has a strong financial position with $482.9 million in cash and a 3.5-year cash runway, minimizing dilution risk.
- Axpaxli's success could unlock a significant market, potentially revolutionizing wet AMD treatment with fewer required injections.
- I rate OCUL a "buy" at these levels as it seems to have enough resources for the foreseeable future and a clear path to obtaining an FDA approval for Axpaxli.
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Ocular Therapeutix: Betting On Axpaxli For A Major Market Breakthrough