01:39 PM EDT, 06/14/2024 (MT Newswires) -- Ocular Therapeutix ( OCUL ) shares were up nearly 15% in recent Friday trading after the company reported its clinical development progress at its investor day Thursday.

The company said it had enrolled 151 participants in its phase 3 trial evaluating Axpaxli implant against aflibercept injection in patients with wet age-related macular degeneration, an eye disease.

Ocular also said it has sought a meeting with the US Food and Drug Administration to determine the protocol for a planned phase 3 repeat dosing study of Axpaxli in wet AMD patients.

Meanwhile, follow-up data from a phase 1 study showed improvement in severity scale in patients with non-proliferative diabetic retinopathy treated with Axpaxli, according to the company.

Ocular said its cash and cash equivalents would fund its planned operating expenses, debt service obligations and capital expenditure requirements into 2028.

Price: 5.79, Change: +0.75, Percent Change: +14.88