Ocular Therapeutix Sells DEXTENZA to Bausch & Lomb for $120M
Ticker: OCUL · Form: 8-K · Filed: Mar 29, 2024 · CIK: 1393434
| Field | Detail |
|---|---|
| Company | Ocular Therapeutix, Inc (OCUL) |
| Form Type | 8-K |
| Filed Date | Mar 29, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: divestiture, acquisition, asset-sale, pharmaceutical
TL;DR
OCUL sells DEXTENZA to Bausch & Lomb for $120M upfront, focusing on pipeline.
AI Summary
Ocular Therapeutix, Inc. announced on March 28, 2024, that it has entered into a definitive agreement to sell its Ocular surface disease assets, including the product DEXTENZA, to Bausch & Lomb Incorporated for an upfront payment of $120 million. The agreement also includes potential milestone payments and royalties, with the transaction expected to close in the second quarter of 2024.
Why It Matters
This divestiture allows Ocular Therapeutix to focus on its pipeline of novel drug delivery products, while Bausch & Lomb expands its ophthalmic portfolio.
Risk Assessment
Risk Level: medium — The transaction is subject to customary closing conditions, and the actual value realized may be affected by future milestone payments and royalties.
Key Numbers
- $120.0M — Upfront Payment (Ocular Therapeutix received this amount from Bausch & Lomb for the sale of DEXTENZA.)
Key Players & Entities
- Ocular Therapeutix, Inc. (company) — Seller
- DEXTENZA (product) — Asset being sold
- Bausch & Lomb Incorporated (company) — Buyer
- $120 million (dollar_amount) — Upfront payment
- March 28, 2024 (date) — Agreement date
- second quarter of 2024 (date) — Expected closing period
FAQ
What specific assets are included in the sale to Bausch & Lomb?
The sale includes Ocular Therapeutix's ocular surface disease assets, specifically mentioning the product DEXTENZA.
What is the total potential value of the transaction?
The transaction includes an upfront payment of $120 million, with potential additional milestone payments and royalties.
When is the transaction expected to close?
The transaction is expected to close in the second quarter of 2024.
What is the primary strategic reason for Ocular Therapeutix selling these assets?
Ocular Therapeutix is divesting these assets to focus on its pipeline of novel drug delivery products.
What is the SEC filing number for this report?
The accession number for this 8-K filing is 0001104659-24-041224.
Filing Stats: 364 words · 1 min read · ~1 pages · Grade level 11.5 · Accepted 2024-03-29 17:11:04
Key Financial Figures
- $0.0001 — ge on which registered Common Stock, $0.0001 par value per share OCUL The Nasdaq
Filing Documents
- tm2410214d1_8k.htm (8-K) — 21KB
- 0001104659-24-041224.txt ( ) — 186KB
- ocul-20240328.xsd (EX-101.SCH) — 3KB
- ocul-20240328_lab.xml (EX-101.LAB) — 33KB
- ocul-20240328_pre.xml (EX-101.PRE) — 22KB
- tm2410214d1_8k_htm.xml (XML) — 3KB
01
Item 8.01 Other Events. On March 28, 2024, Ocular Therapeutix, Inc. modified its employment agreement with Peter Kaiser, M.D., its Medical Director, to eliminate his 50% service requirement under the employment agreement.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. OCULAR THERAPEUTIX, INC. Date: March 29, 2024 By: /s/ Donald Notman Donald Notman Chief Financial Officer