Oculis AG(OCS) - 2025 FY - Earnings Call Transcript

Financial Data and Key Metrics Changes - The company reported USD 206 million in cash on hand as of March, with no debt, providing a runway into early 2028 [4] - The company aims to file for NDA in the second half of next year if Phase III trial results are positive [15] Business Line Data and Key Metrics Changes - OCS-one, targeting diabetic macular edema (DME), showed a 7.2 letter gain in BCVA at week six, increasing to 7.6 at week twelve, with 25.3% of patients gaining 15 letters or more at week six, improving to 27.4% at week twelve [10] - Privel Sector for acute optic neuritis achieved a 43% reduction in retinal ganglion cell thickness at month three, maintained to month six, and an 18 letters improvement in low contrast visual acuity compared to placebo [21] - Lickminumab for dry eye disease demonstrated a negative 0.12 in inferior corneal staining, outperforming Xiidra, with six times better results for patients with TNFR1 genotype [32] Market Data and Key Metrics Changes - The addressable market for DME in the U.S. is estimated at 1.3 million patients, with only 0.5 million currently treated [14] - The market for acute optic neuritis has no approved neuroprotective therapies, indicating a significant opportunity for Privel Sector [18] - The potential market for multiple sclerosis is large, with 2.8 million affected worldwide and 170,000 estimated relapses per year in the U.S. [24] Company Strategy and Development Direction - The company is expanding its pipeline beyond ophthalmology into neuro ophthalmology, targeting large unmet needs with innovative products [33] - The strategy includes being the first-line treatment for early intervention in DME and addressing inadequacies in current treatments [13][15] - Plans to meet with the FDA to discuss registrational studies for acute optic neuritis and to advance investigational trials for new indications [28] Management's Comments on Operating Environment and Future Outlook - Management highlighted the significant unmet needs in the ophthalmic and neuro-ophthalmic markets, emphasizing the potential for their innovative treatments to fill these gaps [33] - The company is well-positioned to generate multiple value catalysts in the coming quarters, with ongoing trials and expected results [33] Other Important Information - The company has completed patient enrollment for its Phase III trials for OCS-one, with results expected in Q2 of 2026 [12] - The management team is experienced and supported by leading international healthcare investors [4] Q&A Session All Questions and Answers Question: What are the next steps for the Privel Sector? - The company is moving full steam ahead on the investigational program for acute optic neuritis and adding two new indications: acute relapses in multiple sclerosis and NAION [23][28]