Baird analyst Colleen Kusy lowered the firm’s price target on Oculis to $35 from $64 and keeps an Outperform rating on the shares. The firm said its R&D day recapped its DME and dry eye programs. In the near term, topline data from the Phase 2 study for licaminlimab in dry eye disease are expected in 2Q24, and Phase 3 data for OCS-01 in pain/inflammation and Phase 1 data for OCS-05 are on track for 4Q24 and they continue to see blockbuster potential for OCS-01 as an eye drop for DME.
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