OIS Index

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%).

About Michael Lachman

Michael Lachman is President of EyeQ Research, which provides market research, analytics, and strategic advisory to ophthalmic companies and investors. Previously, he was a healthcare investment research analyst with Hambrecht & Quist, ThinkEquity Partners, and SAC Capital, and worked in business development, marketing, and R&D for Johnson & Johnson and Baxter.