Ocular Therapeutix Inc OCUL shares are trading lower by $0.80 (11 percent) at $6.75 in Tuesday's session. Investors are exiting the issue after the company announced a 3.5 million share offering at $7 per share.
Also, on Monday the company revealed in its 8-K that it was resubmitting its NDA for Dextenza for Ocular pain treatment following ophthalmic surgery.
The Street is shying away from the share offering price. After a lower open, it immediately breached that level and has been unable to regain it. Its decline off the open has found intra-day support at $6.53. That low coincides with its November 11 low of $6.46.
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