Biotech Stocks Facing Major FDA Momentum, $150 Billion Vanished in a Day

Ocular Therapeutix Inc. (NASDAQ: OCUL) closed at $10.28 on the Nasdaq on the 27th, down 5.35%. Its market capitalization fell by approximately $110 million (about ₩150 billion) in a single day, bringing its total to around $2.2 billion (roughly ₩3 trillion).

The company announced that on January 23 it appointed David W. Robinson as its new Global Chief Commercial Officer, granting him stock options covering 416,000 shares and 136,000 restricted stock units. Top-line data from the Phase 3 SOL-1 trial of AXPAXLI, its candidate therapy for age-related macular degeneration, are expected in the first quarter of 2026. If results are positive, the company plans to file a New Drug Application with the U.S. Food and Drug Administration immediately thereafter.

Ocular Therapeutix is a biopharmaceutical firm specializing in treatments for retinal diseases and post-ocular surgery inflammation and pain. It has built its pipeline around its sustained-release tyrosine kinase inhibitor implant AXPAXLI and its commercial steroid insert DEXTENZA. On Wall Street, analysts have issued “strong buy” ratings on the stock, with 12-month price targets more than double the current share price, citing the upcoming SOL-1 data readout and subsequent regulatory milestones as key catalysts.