OIS Index Gained 2%+ in Jan

The OIS Index of ophthalmic stocks gained 2.1% in January, outperforming medical device stocks (+0.1%), the biotech sector (-5.6%%), and the broader US stock market (-0.2%).

The largest positive contributor was Apellis Pharmaceuticals (+34.3%), which reported positive top-line Phase 3 results in a non-ophthalmic program and completed a stock offering. The largest percentage gainer was Kala Pharmaceuticals (+61.5%), which completed enrollment in its STRIDE 3 Phase 3 study in dry eye.

Several other stocks posted strong gains in January driven by positive ophthalmic clinical trial data, including GenSight Biologics (+44.7%), AGTC (+38.9%), Clearside Biomedical (+30.0%), and Oyster Point Pharma (+28.6%).