Oculis Holding (OCS) AI Stock Analysis

• Market Cap: $1.15B
• Dividend Yield: N/A
• Average Volume (3M): 47.04K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.26
• Revenue Growth: N/A
• EPS Growth: -33.84%
• Country: US
• Employees: 49
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.61
• Shares Outstanding: 54,533,672
• 10 Day Avg. Volume: 95,920
• 30 Day Avg. Volume: 47,043
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.71
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -7.67
• 1Y Price Target: $37.60
• Price Target Upside: 74.56% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 48 Neutral
• Price Target: $17.50 ▼(-18.76% Downside)

Oculis Holding's overall stock score is primarily impacted by its weak financial performance, characterized by significant operational losses and declining equity. The technical analysis suggests a neutral trend with mild bullish momentum, but this is overshadowed by the negative valuation metrics due to ongoing losses and lack of dividend yield. Strategic improvements are necessary to enhance financial stability and investor appeal.

Positive Factors

Strong Equity Position

An increase in total assets and a strong equity position enhance financial stability and stakeholder confidence, supporting long-term growth.

Low Debt-to-Equity Ratio

Low leverage provides financial flexibility, allowing the company to invest in growth opportunities without significant debt burden.

Amended Loan Agreement

The amended loan agreement enhances financial flexibility and operational capabilities, supporting strategic initiatives and potential expansion.

Negative Factors

Declining Equity

Declining equity can undermine financial health, limiting the company's ability to withstand economic downturns and invest in growth.

Negative Cash Flow

Negative cash flow growth indicates operational inefficiencies, potentially restricting the company's ability to fund R&D and other strategic initiatives.

Operational Losses

Substantial operational losses highlight challenges in achieving profitability, which may hinder long-term sustainability and investor confidence.

Oculis Holding Business Overview & Revenue Model

Company Description

Oculis Holding AG, a clinical-stage biopharmaceutical company, develops novel topical treatments for ophthalmic diseases for both back- and front-of-the-eye. The company's lead candidate is OCS-01, a topical dexamethasone formulation, which is in Phase 3 clinical trials for the treatment of diabetic macular edema; OCS-02, a topical biologic candidate that is in Phase 2b clinical trials for the treatment for keratoconjunctivitis sicca, or dry eye disease; and OCS-05, a novel neuroprotective agent for acute optic neuritis and other neuro-ophtha disorders, such as glaucoma, diabetic retinopathy, geographic atrophy, and neurotrophic keratitis. The company is based in Zug, Switzerland.

How the Company Makes Money

Oculis generates revenue through the development and commercialization of its ophthalmic products. The primary revenue streams include sales of its proprietary drug formulations, licensing agreements with pharmaceutical companies, and collaborations with research institutions and healthcare providers. Oculis may also engage in partnerships that involve joint development of new therapies, which can result in milestone payments and royalties based on sales performance. Additionally, the company may receive funding through grants or investments aimed at supporting its research and development initiatives.

Oculis Holding Financial Statement Overview

Summary

Oculis Holding faces substantial financial challenges, particularly in profitability and revenue growth, with negative margins across the board. While the company maintains a low debt-to-equity ratio, its equity has been declining. Cash flows are under pressure, with negative free cash flow and limited conversion of losses into operational cash flow. Strategic adjustments are necessary to improve financial health.

Income Statement

Oculis Holding's TTM (Trailing-Twelve-Months) income statement shows a gross profit margin of -5747.54% and a net profit margin of -18363.60%, indicating significant operational losses. The revenue growth rate is negative, showing a decrease of 47.11% from the previous year, and both EBIT and EBITDA margins are negative, further emphasizing ongoing financial struggles.

Balance Sheet

The balance sheet reveals a debt-to-equity ratio of 0.02, indicating low leverage, but stockholders' equity has decreased significantly over recent years. The equity ratio is 60.96%, showing a strong equity position relative to total assets, yet the company has faced equity erosion over time.

Cash Flow

Cash flow analysis shows a negative free cash flow growth rate of -11.43%. The operating cash flow to net income ratio is 0.55, reflecting operational inefficiencies. The free cash flow to net income ratio is 0.56, suggesting limited cash flow generation relative to net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	686.00K	883.00K	912.00K	960.00K	993.00K
Gross Profit	0.00	-51.40M	-28.36M	-21.31M	-8.61M	-8.34M
EBITDA	-106.25M	-72.80M	-45.73M	-31.95M	-12.98M	-12.10M
Net Income	-107.43M	-85.78M	-88.80M	-38.70M	-18.55M	-14.87M
Balance Sheet
Total Assets	181.62M	120.35M	114.35M	37.06M	58.04M	16.38M
Cash, Cash Equivalents and Short-Term Investments	160.30M	98.66M	91.65M	19.79M	46.28M	4.95M
Total Debt	1.03M	1.18M	605.00K	123.08M	114.27M	54.81M
Total Liabilities	38.52M	46.97M	20.63M	135.05M	119.00M	60.04M
Stockholders Equity	143.10M	73.38M	93.73M	-97.99M	-60.95M	-43.65M
Cash Flow
Free Cash Flow	-58.43M	-47.73M	-53.89M	-28.62M	-13.85M	-12.05M
Operating Cash Flow	-56.99M	-47.50M	-53.84M	-25.07M	-13.82M	-12.03M
Investing Cash Flow	-22.68M	-17.56M	-54.21M	-3.55M	-28.00K	-19.00K
Financing Cash Flow	106.42M	54.03M	129.67M	1.71M	55.19M	4.86M

Oculis Holding Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 21.54
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OCS, the sentiment is Positive. The current price of 21.54 is above the 20-day moving average (MA) of 18.48, above the 50-day MA of 17.89, and above the 200-day MA of 18.83, indicating a bullish trend. The MACD of 0.94 indicates Negative momentum. The RSI at 81.49 is Negative, neither overbought nor oversold. The STOCH value of 84.40 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OCS.

Oculis Holding Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UPB	61 Neutral	$1.08B	―	―	―	―	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
EYPT	50 Neutral	$919.49M	―	-73.95%	―	2.99%	-49.11%
SPRY	50 Neutral	$1.08B	174.05	-23.56%	―	22367.80%	-5.15%
OCS	48 Neutral	$1.15B	―	-80.98%	―	―	-33.84%
PRAX	48 Neutral	$1.10B	―	-60.98%	―	338.45%	-19.64%
SYRE	43 Neutral	$1.34B	2.31	-41.00%	―	―	-429.68%

Oculis Holding Corporate Events

Oculis Advances Privosegtor into Registrational Trials for Neuro-Ophthalmology

On October 6, 2025, Oculis Holding AG announced the advancement of its drug candidate Privosegtor into a registrational program for neuro-ophthalmology indications, following a positive meeting with the FDA. This initiative, known as the PIONEER program, will include three pivotal trials aimed at supporting the registration of Privosegtor for AON and NAION. The trials are expected to generate operational synergies and cost efficiencies, accelerating development timelines. Oculis also reported preliminary financials with approximately $182 million in cash and short-term investments as of September 30, 2025, ensuring a cash runway into the second half of 2027 to support the Privosegtor development program.

Oculis Holding Reports Strong Financial Position in Mid-2025

On August 21, 2025, Oculis Holding AG announced its unaudited financial results for the three and six months ended June 30, 2025. The results highlight the company’s financial position, with total assets increasing to CHF 181,621 thousand from CHF 120,353 thousand at the end of 2024. The announcement provides insights into Oculis Holding’s financial health, indicating a strong equity position and a decrease in total liabilities, which may positively impact its market positioning and stakeholder confidence.

Oculis Holding AG Secures Amended Loan Agreement with Kreos Capital

Oculis Holding AG, a company based in Zug, Switzerland, has entered into an amended and restated loan agreement with Kreos Capital VII (UK) Limited, managed by BlackRock, Inc., on July 31, 2025. This agreement provides Oculis with an increased borrowing capacity of up to CHF 75 million, which could extend to CHF 100 million. The loan is structured in tranches with specific conditions for drawdown and interest rates, and it includes provisions for prepayment and additional fees. The company plans to use the proceeds for general corporate purposes, potentially impacting its financial flexibility and operational capabilities.