Oculis Raises $100 Million in Oversubscribed Offering, Bolstering Pipeline Development

Oculis Holding AG (Nasdaq: OCS; XICE: OCS), a global biopharmaceutical company focused on innovations addressing ophthalmic and neuro-ophthalmic diseases with significant unmet medical needs, recently announced the pricing of an underwritten offering of 5,000,000 of its ordinary shares, with a nominal value of CHF 0.01 per share, at a price of $20.00 per share. The offering raised a total of $100 million in gross proceeds, before deducting underwriting discounts and commissions and offering expenses. The offering was oversubscribed, indicating strong investor demand for the company's shares.

BofA Securities and Leerink Partners acted as joint bookrunning managers for the offering, while Pareto Securities served as the lead manager. Arctica Finance acted as the financial advisor. The offering is expected to close on or about February 18, 2025, subject to satisfaction of customary closing conditions. Before closing, the new shares will be issued out of the Company’s existing capital band (Kapitalband), bringing the total number of registered shares authorized by the Company as per its Articles of Association up to 53,943,700.
Oculis intends to use the net proceeds from the Offering to advance and accelerate its clinical development pipeline, particularly the development of its novel neuroprotective clinical candidate Privosegtor (OCS-05), as well as for working capital and general corporate purposes. The company's pipeline includes OCS-01, a topical dexamethasone optireach formulation in Phase 3 clinical trials for the treatment of diabetic macular edema, and OCS-02, a topical biologic candidate in Phase 2b clinical trials for the treatment of dry eye disease.

The oversubscribed nature of the offering suggests that investors are bullish on Oculis' growth prospects and the potential of its pipeline. The company's strong financial position, with a total of $125.0 million in cash, cash equivalents, and short-term investments as of the quarter's end, further supports its ability to execute on its clinical development plans. Oculis' recent progress in its Phase 3 DIAMOND trials for OCS-01 and the forthcoming insights about OCS-05's potential for treating acute optic neuritis also contribute to the positive sentiment surrounding the company.

In conclusion, Oculis' $100 million oversubscribed offering is a testament to the market's confidence in the company's pipeline and growth prospects. With the proceeds, Oculis is well-positioned to advance its clinical development efforts, particularly for its neuroprotective candidate OCS-05. As the company continues to make progress in its clinical trials and expand its pipeline, investors can expect to see further developments in Oculis' stock price and market valuation.