Oculis Buys Out Privosegtor Rights from Accure for $3.8M Cash and 2M Shares, Ending Royalty Obligations
OCS sits 21% above its 52-week low of $10.52.
Summary
Oculis is acquiring full worldwide rights to Privosegtor from Accure Therapeutics, terminating the legacy license agreement and its associated milestone payments and royalties. The deal costs $3.8 million cash upfront plus up to 2.05 million shares, with future royalties dropping to low single-digit percentages owed only to academic institutions. This follows positive FDA pre-IND feedback for Privosegtor in acute MS relapses reported on August 3, and comes as the PIONEER-1 registrational trial in optic neuritis advances. The transaction removes a significant financial overhang and gives Oculis greater economic upside on its lead neuro-ophthalmology asset. An IND submission for acute MS relapse is expected later this year.
At the time of this announcement, OCS was trading at $12.68 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $724.9M. The 52-week trading range was $10.52 to $34.48. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.