Tazeen Ahmad
BofA Securities, Research Division

Ocular Therapeutics. Presenting for Ocular today and sitting up on stage with me is Dr. Pravin Dugel, who is, of course, CEO of the company. Dr. Dugel, I call you Pravin. Thank you for making the trip out here.

Pravin Dugel
Executive Chairman, President & CEO

Tazeen, thank you. Thanks for having us here. It's always a wonderful meeting and really appreciate the opportunity to speak with you and to be in this meeting. Thank you.

Tazeen Ahmad
BofA Securities, Research Division

I should actually refer to you as Dr. Dugel because..

Pravin Dugel
Executive Chairman, President & CEO

No, you should refer to me as Pravin.

Tazeen Ahmad
BofA Securities, Research Division

Okay. So for those who might not be as familiar with Ocular, can you give us an overview of the company, the platform, and we can go into the specifics of AXPAXLI right after that.

Pravin Dugel
Executive Chairman, President & CEO

So we have 2 targets. One is wet macular degeneration. The other is diabetic retinopathy. There is a receptor that called VEGF that is inhibited that we know is effective in both wet macular degeneration and diabetic retinopathy. The need that we've known about for almost 4 decades is that though we have a receptor that we know works almost miraculously well, take wet macular generation, for instance, after 4 decades in this country alone, 40% of patients drop out in the first year, which is not just a tragedy from a human point of view, but also has enormous social impact.