Oculis Holding AG

Executive Summary

Oculis Holding AG is a clinical-stage biopharmaceutical company developing topical, non-invasive treatments for ophthalmic diseases. Its lead asset, OCS-01 (dexamethasone cyclodextrin nanoparticle eye drops), targets diabetic macular edema (DME) and post-surgical inflammation. Recently completed Phase 3 trials for post-operative inflammation showed positive results, and two pivotal Phase 3 trials for DME (NCT05066997 and NCT06172257) are expected to report top-line data in the second quarter of 2026. A Phase 2 trial for uveitis-related cystoid macular edema (NCT05608837) is also ongoing, with results anticipated in the third quarter of 2026. If successful, OCS-01 could become the first topical steroid approved for DME, addressing a significant unmet need. The company also has early-stage programs, including OCS-02 (anti-TNFα antibody fragment) for dry eye disease and OCS-05 for optic neuritis. With a robust pipeline and multiple near-term catalysts, Oculis is well-positioned for potential value inflection.

Upcoming Catalysts (preview)

• Q2 2026OCS-01 Phase 3 DME Top-Line Data65% success
• Q2 2026OCS-01 NDA Submission for Post-Operative Inflammation80% success
• Q3 2026OCS-01 Phase 2 Uveitis-Related CME Results50% success