Ocular Therapeutix reported that its intravitreal TKI hydrogel Axpaxli met the superiority primary endpoint versus a low‑dose comparator of Regeneron’s Eylea in the Sol‑1 Phase III trial for wet age‑related macular degeneration. After a loading phase, a single dose of Axpaxli maintained vision at pre‑specified thresholds at 36 weeks at higher rates than the active control. Despite meeting statistical requirements, investors reacted negatively because the active control performed better than expected, narrowing perceived commercial differentiation. Company leadership stressed the trial’s Special Protocol Agreement and the potential for a superiority label if regulatory discussions proceed favorably. Axpaxli’s data will now face scrutiny on real‑world treatment patterns, dosing frequency comparisons, and how retina specialists may adopt a new TKI hydrogel versus established anti‑VEGF agents if approved.