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SEC issues subpoena to Ocular Therapeutix over eye pain drug

SEC issues subpoena to Ocular Therapeutix over eye pain drug

Ocular Therapeutix Inc said the U.S. Securities and Exchange Commission (SEC) had issued a subpoena seeking information about the company’s eye-pain drug Dextenza.

Shares of the company were down 7.2 percent at $4.25 in after-marketing trading.

The subpoena included a request to furnish Dextenza-related communications with the U.S. Food and Drug Administration (FDA), investors and others, the company said.

Dextenza was twice rejected by the FDA on concerns over how it is made and tested and Ocular plans to resubmit a marketing application in the first half of 2018.

Ocular also said some of its current and former executives and board members were named in a lawsuit for alleged breach of fiduciary duty.

The company said it intends to cooperate with the SEC.

(Reporting by Tamara Mathias in Bengaluru; Editing by Sriraj Kalluvila)



Source: REUTERS
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