Biopharmaceutical company Ocular Therapeutix Inc (Nasdaq: OCUL) announced on Tuesday the pricing of an underwritten offering of 37,909,018 shares of its common stock at an offering price of USD12.53 per share for gross proceeds of approximately USD475.0m, before deducting underwriting discounts and commissions and other offering expenses payable by the company.

All shares in the offering will be sold by the company. Subject to the satisfaction of customary closing conditions, the offering is expected to close on or about 1 October 2025.

BofA Securities, TD Cowen and Piper Sandler & Co. are acting as joint book-running managers for the offering. Baird and Raymond James are acting as lead managers, with Citizens Capital Markets and H.C. Wainwright & Co. acting as co-managers.

Ocular Therapeutix intends to use the net proceeds from this offering, together with existing cash and cash equivalents, to fund its planned open-label extension study for AXPAXLI in patients with wet age-related macular degeneration (wet AMD); to fund its planned Phase 3 clinical trials of AXPAXLI for the treatment of non-proliferative diabetic retinopathy (NPDR); for investments in infrastructure, including capital expenditures to support manufacturing; for pre-commercialisation activities associated with AXPAXLI, if approved; and for working capital and other general corporate purposes.