1. Ocular Therapeutix's value depends on the Phase 3 success of Axpaxli for Wet AMD, with recent protocol changes reflecting management's confidence; 2. The company is financially secure through 2028, minimizing funding risks ahead of critical trial data; 3. Superiority in SOL-1 could establish Axpaxli as a new standard of care, while failure risks an 80%+ stock decline, making OCUL a speculative buy requiring cautious risk management.