Oculis (OCS) Stifel 2024 Healthcare Conference summary

Portfolio overview and innovation

• Focuses on ophthalmology with three core assets: OCS-01, OCS-02, and OCS-05, each targeting different eye conditions and leveraging innovative delivery or mechanism of action.

• OCS-01 is a topical steroid eye drop uniquely able to reach the retina, currently in phase III for DME and post-ocular surgery pain/inflammation.

• OCS-02 is a biological anti-TNF alpha eye drop in phase IIb for dry eye, using a precision medicine approach.

• OCS-05 is a novel small molecule with neuroprotective potential, in phase II for acute optic neuritis, with data expected December this year.

OCS-01 clinical progress and differentiation

• DIAMOND phase III program for DME showed significant BCVA gains (7.2 at 6 weeks, 7.6 at 12 weeks), comparable to anti-VEGF therapies.

• 25–27% of patients achieved >15 letter gain, outperforming Ozurdex implant based on label comparisons.

• Rapid CMT reduction observed by week 2, with strong safety and tolerability.

• Stage two of DIAMOND is ongoing (52 weeks, ~700 patients), with 70% and 40% enrollment in two concurrent trials as of October.

• Top-line readout for DIAMOND stage two expected in first half of 2026.

Market opportunity and positioning for OCS-01

• About 60% of DME patients remain untreated due to invasive nature of current therapies; OCS-01 offers a non-invasive, self-administered alternative.

• Addresses both untreated and anti-VEGF non-responder populations, covering a large, underserved market of approximately 1.3 million patients.

• Demonstrated efficacy in both naive and previously treated patients after anti-VEGF washout.

• High compliance rates observed in trials; real-world compliance expected to be strong due to symptomatic improvement.

• Positive physician feedback highlights versatility for both early and later-stage intervention, with potential to change treatment paradigms.