OCS Stock — Oculis Holding AG: Cash, EV, Pipeline

Share price

$10.14

Market cap

$588.0M

Cash

$102.6M

Enterprise value

$485.4M

Balance sheet

Cash	$102.6M
Debt	$0.0M
Net cash	$102.6M
Enterprise value	$485.4M
Basic shares	58.0M shares
Fully diluted shares	72.6M shares
Fully diluted market cap	$735.9M
Cash per share	$1.77

Cash figures as of 2025-12-31. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Jan 12 - Feb 23	licaminlimab	Phase 2/3	Dry Eye Disease (DED)	—
Jan 12 - Feb 23	Privosegtor	Phase 3	Optic Neuritis	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

OCS-01

Phase 3 · Active Modality: eye drop (1.5% dexamethasone ophthalmic suspension; OPTIREACH technology)

Indications

Diabetic macular edema (DME) (Phase 3)

Catalysts

— Q2 2026
— Q4 2026 (if results positive)

Status note Two 52-week pivotal Phase 3 trials (DIAMOND-1, DIAMOND-2); enrollment complete Apr 2025.

Licaminlimab

Phase 2/3 · Active Modality: eye drop (biologic)

Aliases OCS-02

Target TNFα

Partnerships Novartis: licensed from Novartis (Novartis Agreement)

Indications

Dry eye disease (DED) (Phase 2/3)

Catalysts

— Q4 2026

Status note Registrational Phase 2/3 PREDICT-1 trial initiated Q4 2025, following Phase 2b RELIEF trial.

Privosegtor

Phase 3 · Active Modality: n/a

Aliases OCS-05

Target serum–glucocorticoid kinase (SGK)

Partnerships Accure: exclusive global license (Accure Agreement)

Indications

Optic neuritis (ON) (Phase 3)
Non-arteritic anterior ischemic optic neuropathy (NAION) (Phase 3)
Multiple sclerosis (Preclinical)

Catalysts

— H1 2026
— mid-2026
— 2026

Status note PIONEER registrational program (three pivotal trials for ON and NAION) initiated Q4 2025 with PIONEER-1. IND for MS planned 2026.

Per-asset detail extracted from the 20-F filed 2026-03-04. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Privosegtor
Lead indication	Optic Neuritis
Lead phase	Phase 3
Active trials	2
Collaborator trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07623668	Phase 3	Recruiting	Sponsor	Oculis	—	Optic Neuritis	—
NCT07548632	Phase 2/3	Recruiting	Sponsor	Oculis	—	Dry Eye Disease (DED)	—
NCT05608837	Phase 2	Active, not recruiting	Collaborator	Quan Dong Nguyen	—	Uveitis Related Cystoid Macular Edema; Cystoid Macular Edema, Postoperative	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 1 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 3 active trials for Oculis on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Braidwell LP	834,183	+834,183	0.43%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

OCS — Oculis Holding AG

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders