Ocular Therapeutix's stock experienced a 24-hour plunge of 7.15% in post-market trading on Tuesday, following the release of Phase 3 clinical trial data for its key drug candidate.

The sharp decline came after the company reported topline results from its SOL-1 Phase 3 superiority trial of Axpaxli (OTX-TKI) for wet age-related macular degeneration. While the trial demonstrated statistical superiority over Regeneron's Eylea (aflibercept) and met its primary endpoint, the durability advantage was reported to be smaller than investors had anticipated.

Analysts noted that the data raised questions about the drug's commercial outlook in the competitive wet AMD market, which already has several established effective therapies. Despite showing promise and achieving its Week 52 durability assessment with high statistical significance, the market reaction reflected investor concerns about the product's potential market performance relative to expectations.