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Ocular Therapeutix announces public stock offering

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Ocular Therapeutix announced an underwritten public offering of 6.5 million shares of its common stock, priced at $5 per share, according to a press release.

The underwriter of the offering will be granted a 30-day option to purchase up to an additional 975,000 shares on the same terms and conditions, the release said.

Net proceeds from the offering, expected is expected to gross $32.5 million, are to be used to fund the resubmission of a new drug application for Dextenza, as well as the development of OTX-TP, OTX-TIC and OTX-TKI and preclinical and regulatory activities for other product candidates.

The offering is expected to close on or about Jan. 29.

Piper Jaffray & Co. is acting as the offering’s manager and underwriter.