Ocular Therapeutix announced a stock sale by its top executive and a series of corporate updates as the company progresses toward regulatory submission for its investigational wet age-related macular degeneration therapy.
According to a Form 4 filing with the Securities and Exchange Commission, Pravin Dugel - who serves as Executive Chairman, President and Chief Executive Officer of Ocular Therapeutix (NASDAQ: OCUL) - sold 124,882 shares of the companys common stock on February 12, 2026. The shares were disposed of at a weighted average price of $9.04, producing gross proceeds of approximately $1.13 million.
The filing specifies that the sales occurred in multiple transactions with execution prices ranging from $8.99 to $9.085 per share. The company said the disposition was made to cover tax obligations arising from the vesting of restricted stock units.
Following the transaction, Dugel directly holds 3,033,078 shares of Ocular Therapeutix and retains an indirect interest in an additional 300,115 shares through the Pravin Dugel 2024 Irrevocable Trust.
Clinical and corporate developments
Separately, Ocular Therapeutix reported positive pivotal data for AXPAXLI, its investigational treatment for wet age-related macular degeneration. In a Phase 3 superiority trial, 74.1% of patients treated with AXPAXLI maintained vision at Week 36 versus 55.8% of patients treated with the current standard, aflibercept. The company described the difference as statistically significant.
Ocular Therapeutix said it is advancing its New Drug Application timeline for AXPAXLI as a result of the trial outcome.
On the corporate front, the company named Jason Robins as interim Chief Financial Officer while Donald Notman is on medical leave. In addition, David W. Robinson has been appointed Global Chief Commercial Officer to support a potential AXPAXLI launch. Robinsons background includes serving as Chief Marketing Officer for Global Ophthalmology at Merck and participating in the commercial launch of EYLEA at Regeneron Pharmaceuticals.
RBC Capital has reiterated an Outperform rating on Ocular Therapeutix and maintained a $30.00 price target, noting these developments amid a 28% year-to-date decline in the companys share price.
Context and next steps
The insider sale was disclosed as a tax-driven disposition tied to vested equity rather than an open-market directional trade, and the company continues to prepare regulatory filings for AXPAXLI following the Phase 3 result. Management changes are positioned to support potential commercialization if regulatory approval and subsequent launch proceed according to the companys timeline.