Robert W. Baird cut its price target for Oculis Holding AG to $38 from $49 after its lead drug candidate OCS-01 failed the primary endpoint in Phase 3 DIAMOND trials for diabetic macular edema. The company holds $278 million in cash, funding operations into 2029 while refocusing its pipeline during a probe.
Robert W. Baird cut its price target to $38 from $49 after OCS-01 failed to meet the primary endpoint in Phase 3 DIAMOND trials for diabetic macular edema, prompting a 23.4% stock decline in a single trading day.
Oculis Holding AG reported $278 million in cash and short-term investments as of March 31, 2026, providing funding for operations into the second half of 2029 despite the setback.
Law firm Levi & Korsinsky launched an investigation into potential securities law violations, examining whether Oculis misled investors about the progress of the OCS-01 DME program prior to the share collapse.
Following the trial failure, the company halted FDA filing plans for OCS-01 in diabetic macular edema and will reallocate resources toward other programs, including optic neuropathies and dry eye disease candidates.
