0001193125-26-091446
SEC filingOculis Holding AG, a clinical-stage biopharmaceutical company, reported a net loss of $99.0M for FY 2025, up 15.4% from $85.8M in FY 2024, driven by increased R&D expenses of $57.1M (up 9.6%) and G&A expenses of $25.8M (up 18.2%). Grant income rose 74.8% to $1.2M. Operating loss widened to $81.7M from $73.2M, reflecting investments in Phase 3 trials for OCS-01 (DME, topline Q2 2026), PREDICT-1 for Licaminlimab (DED, topline Q4 2026), and PIONEER program for Privosegtor (ON/NAION). Finance result deteriorated to -$17.5M due to $12.3M warrant liability adjustment and $6.1M FX loss. Balance sheet strengthened with $236.0M total assets (up from $120.4M), $196.1M equity, and $213.0M cash/short-term assets, bolstered by $186.9M financing inflows from offerings. Cash burn from operations was $66.3M. No revenue from products; focus on pipeline advancement. Accumulated losses reached $384.5M. Liquidity supports operations through at least next 12 months.
Oculis Holding AG reported FY 2025 net loss of CHF 99.0M ($99.0M), up 15.4% from CHF 85.8M in FY 2024, driven by R&D investments in clinical programs. Operating loss widened to CHF 81.7M (up 11.6% YoY) with no product revenue. Grant income increased 74.8% to CHF 1.2M. Balance sheet strengthened: total assets CHF 236.0M (vs CHF 120.4M), equity CHF 196.1M, cash/short-term assets CHF 213.0M after CHF 186.9M financing inflows from offerings. Operating cash outflow CHF 66.3M. Pipeline milestones: OCS-01 Phase 3 topline Q2 2026, Licaminlimab PREDICT-1 Q4 2026, Privosegtor PIONEER initiated.
No product revenue; sole income from grants CHF 1.2M (up 74.8% YoY from CHF 0.7M), tied to Icelandic R&D incentives. No segment breakdown disclosed.
Operating expenses rose 12.2% to CHF 82.9M: R&D CHF 57.1M (+9.6%), G&A CHF 25.8M (+18.2%). No gross margins applicable. Warrant liability adjustment CHF 12.3M loss, FX loss CHF 6.1M impacted finance result (-CHF 17.5M). No profitability; focus on clinical advancement.
Operating outflow CHF 66.3M (vs CHF 48.9M). Investing outflow CHF 60.9M (investments). Financing inflow CHF 186.9M (offerings). Cash CHF 81.3M, short-term assets CHF 131.7M (total CHF 213.0M). Total assets CHF 236.0M (non-current CHF 17.1M, current CHF 218.9M). Liabilities CHF 39.9M (current CHF 36.7M incl. warrants CHF 14.5M). Equity CHF 196.1M. No debt drawn.
Liquidity supports 12+ months. Key catalysts: OCS-01 DIAMOND topline Q2 2026 (NDA Q4 2026), Licaminlimab PREDICT-1 Q4 2026, Privosegtor PIONEER. Risks: clinical failures, funding needs, competition. Amended loan facility up to CHF 100M available.