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.
Photo: Triggermouse from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
