10:59 AM EDT, 10/01/2025 (MT Newswires) -- Ocular Therapeutix's ( OCUL ) management is confident in its treatment for wet age-related macular degeneration, backed by 95% clinical trial patient retention and open-label extension study data, RBC Capital Markets said in a Wednesday note after attending the company's R&D day in New York City.

The clinical trial for the company's axpaxli drug is on track and has demonstrated "strong execution" so far, with results expected in Q1 of 2026, RBC analysts said. A separate non-inferiority trial evaluating the drug against aflibercept is also progressing as planned, with results anticipated in H1 of 2027, they said.

The company's open-label extension study, which assesses the long-term effects of axpaxli beyond the initial trials, could facilitate earlier commercial adoption by demonstrating the positive impact of earlier treatment, the analysts said.

The "superiority" label of axpaxli may provide multiple benefits, including the reduction of payor barriers and increase physician preference, according to the note.

The market for diabetic retinopathy treatment could be an underappreciated opportunity for the drug, with its biannual or annual dosing potentially working better for patients who reportedly have difficulties making regular office visits, the note said.

RBC reiterated the company's stock rating at outperform, speculative risk, with a $17 price target.

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