Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares are trading higher Thursday after reports suggested Sanofi is preparing a revised bid for the company.

• Ocular Therapeutix stock is surging to new heights today. Why is OCUL stock up today?

Sanofi Prepares Higher Bid

Sanofi is readying an improved takeover offer for Ocular Therapeutix after the company rejected a prior proposal, according to several outlets, citing a report from French publication La Lettre.

The report states that Sanofi previously approached Ocular with a discreet offer of $16 per share in September, which was turned down by Ocular's board. Since then, Sanofi CEO Paul Hudson and the company's management team have reportedly been working on an enhanced bid.

Ocular Therapeutix shares rose roughly 21% in premarket trading Thursday before pulling back. The stock had been trading around $10.50 per share at the time of the initial approach, implying a market capitalization of approximately $2.2 billion.

Reports indicate that a potential acquisition would provide Sanofi with exposure to the wet age-related macular degeneration market. Ocular's tyrosine kinase inhibitor Axpaxli is currently in late-stage development for wet AMD, with topline data from the SOL-1 study expected in the first quarter of 2026 and data from the SOL-R study anticipated in the first half of 2027.

The report also noted that Sanofi has recently increased its M&A activity. In December, the company agreed to acquire Dynavax Technologies for nearly $2.2 billion, with the transaction expected to close in the first quarter of 2026.

Mixed Technical Indicators For OCUL

Currently, Ocular Therapeutix is trading 1.7% above its 20-day simple moving average (SMA) but is 0.7% below its 50-day SMA, indicating mixed signals in the short term. Over the past 12 months, shares have increased approximately 48.34%, and the stock is positioned closer to its 52-week highs than lows.

The RSI is at 39.46, which is considered neutral territory, while the MACD is below its signal line, indicating bearish pressure on the stock. The combination of neutral RSI and bearish MACD suggests mixed momentum.

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Ocular Therapeutix, Inc. (OCUL), highlighting its strengths and weaknesses compared to the broader market:

• Momentum: Bullish (Score: 69.06/100) — Stock is outperforming the broader market.

The Verdict: Ocular’s Benzinga Edge signal reveals a classic ‘High-Flyer’ setup. While the Momentum (69.06) confirms the strong trend, the lack of additional rankings suggests that investors should remain cautious.

OCUL Price Action: At the time of writing, Ocular shares are trading 1.17% higher at $11.20, according to data from Benzinga Pro.

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