May 29 (Reuters) - Oculis Holding CR5.F, OCS.O said on Friday its eye drop for patients with diabetic macular edema failed to meet the main goal of improving vision after 52 weeks in two late-stage trials.

U.S.-listed shares of the Switzerland-based company fell 23% in afternoon trading.

Here are some details:

• The drug, OCS-01, was being tested in patients with diabetes-related macular edema, which is swelling in the macula, or central, part of the retina of an eye.

• In two late-stage studies involving more than 800 patients, the drug did not significantly improve vision compared with placebo.

• The drug showed a substantial and sustained reduction in retinal thickness, a secondary goal, across both trials.

• Another key secondary goal measuring proportion of patients with significant vision gains was also not met.

• OCS-01 was well tolerated, with no unexpected adverse events observed, and the overall safety profile was consistent with that of previous trials, the company said.

• Oculis said it does not plan to seek U.S. regulatory approval for OCS-01 in diabetic macular edema based on the results.

• Oculis reported cash and equivalents of $278 million as of March 31, which would fund operations into the second half of 2029.