As previously reported, BofA initiated coverage of Ocular Therapeutix with a Buy rating and $15 price target. Ocular is developing a pipeline of sustained release drug therapies leveraging its proprietary Elutyx platform with potential ophthalmology indications, notes the analyst, who thinks lead asset Axpaxli has the potential for a differentiated profile in wet age-related macular degeneration, or wAMD.
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