Zinger Key Points
- Ocular Therapeutix announces the commencement an underwritten public offering of its common stock.
- Shares of the stock fell sharply following the news.
- China’s new tariffs just reignited the same market patterns that led to triple- and quadruple-digit wins for Matt Maley. Get the next trade alert free.
Ocular Therapeutix, Inc. OCUL shares are trading lower in Wednesday's after-hours session. The company announced that it commenced an underwritten public offering of its common stock.
What To Know: While the size, terms and time frame of the offering were not provided, the company is anticipated to grant a 30-day option to purchase up to an additional 15% of the number of shares of common stock from the offering to the underwriters.
Additionally, all of the shares in the proposed offering are to be sold by the company.
The net proceeds from the proposed offering are planned to be used to fund the Phase 3 clinical development of AXPAXLI, as well as to support the company's clinical development programs and for working capital and other general corporate purposes.
Related Link: Why Amtech Stock Plunged After-Hours
OCUL Price Action: Shares of OCUL were down 15.48% at $3.33 in the after-hours session Wednesday at the time of publication, according to Benzinga Pro.
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