What Happened To Ocular Therapeutix Stock After-Hours?
Portfolio Pulse from Ryan Gustafson
Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares dropped 15.48% in after-hours trading following the announcement of an underwritten public offering of its common stock. The terms, size, and timeframe of the offering were not disclosed, but the company may grant a 30-day option for underwriters to purchase an additional 15% of the shares. The proceeds are intended for the Phase 3 clinical development of AXPAXLI, other clinical programs, working capital, and general corporate purposes.
December 13, 2023 | 10:59 pm
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Ocular Therapeutix's stock price fell after announcing a public offering, which typically dilutes existing shares and can pressure stock prices short term.
Public offerings often lead to dilution of existing shares, which can result in a negative short-term impact on the stock price. The 15.48% drop in after-hours trading reflects investor concerns over this dilution and the lack of details about the offering.
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IMPORTANCE 85
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