Ocular Therapeutix Stock Gains As Court Invalidates Drug Delivery Patent From Mati

Ocular Therapeutix Inc OCUL announced that an appeals court invalidated a drug delivery system patent held by Mati Therapeutics.
The PTAB decision followed an inter partes review that determined Ocular Therapeutix had proven that all 23 claims of U.S. Patent 9,849,082 B2 (the ‘082 patent), owned by Mati are invalid due to “obviousness.”
Mati had previously claimed that Ocular Therapeutix’s first commercial drug product, Dextenza, and its hydrogel platform, had infringed the ‘082 patent.
Mati may seek further review for the recent judgment and has additional patents that may relate to Dextenza or future products Ocular may develop in the future.
Still, Ocular said it believes Mati’s patents would be non-infringed or subject to one or more claims of invalidity.
Dextenza is designed to treat ocular inflammation and pain following ophthalmic surgery and ocular itching associated with allergic conjunctivitis.
Dextenza resorbs and exits the nasolacrimal system without the need for removal.
Price Action: OCUL shares are up 10.30% at $7.83 during the market session on the last check Tuesday.