Here's Why Ocular Therapeutix Stock Is Sinking Today
Shares of Ocular Therapeutix (NASDAQ: OCUL), a biopharmaceutical company, are getting hammered today in response to lousy clinical trial data. The company's experimental insert for the treatment of dry-eye disease, OTX-CSI, failed to boost tear production. Disappointed investors had beaten the stock 35.5% lower as of 10:57 a.m. on Friday.
Ocular Therapeutix's only revenue-generating product, Dextenza, isn't making ends meet yet. Investors had been looking forward to the potential launch of a second product, but the results presented today suggest the company's attempt to package cyclosporine into its proprietary hydrogel insert is a bust. Patients given OTX-CSI exhibited a little less tear production after 12 weeks than patients randomized to receive an empty insert.
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Source Fool.com
