Oculis Shares Fall 23% After Phase 3 Trials Miss Visual Acuity Goal
OCS•Oculis’s Phase 3 DIAMOND-1 and DIAMOND-2 trials of OCS-01 eye drops in diabetic macular edema failed to reach the primary endpoint of best corrected visual acuity among over 800 patients. Shares plunged 23% as Oculis halted FDA filing plans and redirected resources to optic neuropathy and dry eye programs.
1. Phase 3 Trial Outcomes
Oculis enrolled over 800 patients across two 52-week DIAMOND studies testing OCS-01 eye drops in diabetic macular edema; both trials failed to achieve the primary endpoint of best corrected visual acuity despite demonstrating statistically significant reductions in retinal thickness compared to placebo.
2. Stock Market Reaction
Following the topline results, Oculis shares tumbled 23% in afternoon trading, reflecting investor disappointment over the missed vision improvement and uncertainty around the DME program’s future revenue potential.
3. Pipeline and Strategic Shift
The company decided to postpone FDA submission for OCS-01 in diabetic macular edema and reallocate capital toward its Privosegtor PIONEER trial targeting optic neuropathies and the Licaminlimab PREDICT-1 study in dry eye disease to strengthen its late-stage development portfolio.
