What happened Shares of Ocular Therapeutix (NASDAQ: OCUL), a biopharmaceutical company, are getting hammered today in response to lousy clinical trial data. The company's experimental insert for the treatment of dry-eye disease, OTX-CSI, failed to boost tear production. Disappointed investors had beaten the stock 35.5% lower as of 10:57 a.m. on Friday. So what Ocular Therapeutix's only revenue-generating product, Dextenza, isn't making ends meet yet. Investors had been looking forward to the potential launch of a second product, but the results presented today suggest the company's attempt to package cyclosporine into its proprietary hydrogel insert is a bust. Patients given OTX-CSI exhibited a little less tear production after 12 weeks than patients randomized to receive an empty insert. Image source: Getty Images. Tear production was measured by the Schirmer test, which involves sticking tiny strips of paper to trial participants' eyelids, then measuring how far the tears travel. Patients given a short-duration formulation improved by 1.98 millimeters while the placebo group improved by 2.24 millimeters on average. Patients given the longer-duration formula improved by 1.91 millimeters compared to an improvement of 3.08 millimeters for those given a placebo. Now what Dextenza sales have been a little disappointing since its launch in 2019. This biotech stock would be in a lot more trouble if the Food and Drug Administration hadn't recently approved Dextenza to treat itching associated with allergic conjunctivitis. The label expansion to allergic conjunctivitis makes Dextenza a lot more accessible. Now that Dextenza is no longer limited to the post-surgical setting, sales could put Ocular Therapeutix on a path to profitability. 10 stocks we like better than Ocular TherapeutixWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Ocular Therapeutix wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2021 Cory Renauer owns shares of Ocular Therapeutix. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source