Read on Twitter
$OCUL CEO sounded pretty excited about $REGN partnership developments, but isn't allowed to disclose details without consent from their "big brother." EYLEA brings in >$4B annually and agreement gives $OCUL royalties in high single digits to low-to-mid-teens.
This translates to $300-600M annually if the partnership can replace EYLEA with a superior product. This is likely, given it's the same molecule with enhanced durability. I don't see any other possible outcome other than $REGN buying out $OCUL at >$4B. CEO believes eNPV is $6B.
$OCUL is developing its own wAMD candidate independently with a small molecule TKI and implicitly references this in the $REGN deal parameters. "Includes only large molecule anti-VEGFs." Significant leverage here.
$OCUL has a massive pipeline with Ph2 assets across many high value indications (wAMD, glaucoma, dry eye) that are de-risked at both the molecule and delivery level. Don't even need to worry about compliance in these trials too.
Just can't pound the table enough on this company. Definitely need to shout out @buysidebio for putting $OCUL on my radar earlier this year.
