Ocular Therapeutix Earnings Reports

Revenue declined year-over-year primarily due to weaker DEXTENZA sales, while R&D expenses surged to support key late-stage trials for AXPAXLI.

Ocular Therapeutix saw revenue growth in Q4 2024 but reported a higher net loss due to increased research and development expenses. The company maintains a strong cash position and does not plan to raise additional capital in 2025.

Ocular Therapeutix reported a total net revenue of $15.4 million for the third quarter of 2024, a 2.3% increase over the comparable period in 2023. The company's cash and cash equivalents were $427.2 million as of September 30, 2024, which is expected to fund operations into 2028. The company expects full-year 2024 total net revenues for DEXTENZA to be between $62.0 million and $67.0 million, compared to $57.9 million reported for 2023.

Ocular Therapeutix reported total net revenue of $16.4 million for the second quarter of 2024, an 8.3% increase over the comparable period in 2023. The company's cash and cash equivalents were $459.7 million as of June 30, 2024, expected to fund operations into 2028. The FDA has confirmed that SOL-R is appropriate for use as the second registrational study.

Ocular Therapeutix reported a 10.4% increase in total net revenue to $14.8 million for the first quarter of 2024, driven by increased DEXTENZA sales. The company's cash and cash equivalents totaled $482.9 million as of March 31, 2024, expected to support operations into 2028. The net loss for the quarter was $(64.8) million, or $(0.49) per share.

Ocular Therapeutix reported a 5.0% increase in total net revenue for Q4 2023, reaching $14.8 million, driven by DEXTENZA sales. The company's cash and cash equivalents were $195.8 million as of December 31, 2023, which, combined with proceeds from a February 2024 private placement, is expected to fund operations into at least 2028.

Ocular Therapeutix reported a total net revenue of $15.1 million for the third quarter of 2023, representing a 26% increase over the third quarter of 2022. DEXTENZA net product revenue grew to $15.0 million from $11.9 million over the comparable period in 2022.

Ocular Therapeutix reported a 24% increase in total net revenue compared to Q2 2022, driven by DEXTENZA net product revenue of $15.0 million. The company is progressing with its OTX-TKI program and secured an $82.5 million credit facility, extending its cash runway into 2025.

Ocular Therapeutix reported total net revenue of $13.4 million for the first quarter of 2023, with DEXTENZA net product revenue growing to $13.2 million. The company's net loss for the quarter was $(30.3) million, or $(0.39) per share.

Ocular Therapeutix reported total net revenue of $14.1 million for Q4 2022, representing a 15% increase year-over-year. The company's net loss for the quarter was $(15.5) million, which included a $5.2 million non-cash item. DEXTENZA net product revenue was $13.9 million, a 14% increase over the comparable quarter of 2021. The company is progressing with its pipeline, including OTX-TKI and OTX-TIC, and expects key milestones in 2023.

Ocular Therapeutix reported net revenue of $12.0 million for Q3 2022, a 2% decrease compared to the same period in 2021. DEXTENZA net product revenue was $11.9 million, flat compared to Q3 2021. The company's net loss for the quarter was $(24.2) million, or $(0.31) per share.

Ocular Therapeutix reported its second quarter 2022 financial results, with net revenue of $12.3 million, a 5% increase compared to the same period in 2021. DEXTENZA net product revenue reached $12.1 million, representing a 9% increase year-over-year. The company is advancing its ophthalmology pipeline, with interim data from the OTX-TKI clinical trial expected in the third quarter.

Ocular Therapeutix reported an 81% increase in total net revenue, reaching $13.2 million for the first quarter of 2022. DEXTENZA® net product revenue increased by 87% year-over-year, totaling $12.5 million. The company's pipeline progressed, with the completion of enrollment in the U.S. Phase 1 clinical trial for OTX-TKI and the commencement of dosing in the Phase 2 clinical trial for OTX-TIC.

Ocular Therapeutix reported a strong fourth quarter with DEXTENZA net product revenue increasing by 77% year-over-year to $12.2 million. The company is creating a new business unit focused on DEXTENZA in the office setting and has completed enrollment in a U.S.-based clinical trial for OTX-TKI. The company reported a net loss of $(3.9) million, or a loss of $(0.05) per share on a basic basis and a loss of $(0.23) per share on a diluted basis for the three months ended December 31, 2021.

Ocular Therapeutix reported a net product revenue of DEXTENZA® for the quarter was $11.9 million, a 120% increase over the third quarter of 2020. The company reported net income of $2.7 million, or income of $0.03 per share on a basic basis and a loss of $(0.23) per share on a diluted basis for the three months ended September 30, 2021.

Ocular Therapeutix reported a productive quarter with net product revenue for DEXTENZA up nearly 700% year-over-year and record quarterly in-market sales. The company also advanced its pipeline, including the first patient dosed in the U.S.-based trial of OTX-TKI and a research agreement with Mosaic Biosciences.

Ocular Therapeutix's first quarter of 2021 saw significant progress, with DEXTENZA® revenue up over 200% year-over-year and a record 16,634 billable units sold. The company is advancing its pipeline, including Phase 2 programs in wet-AMD and glaucoma, and expects to complete a Phase 2 clinical trial in dry eye disease.

Ocular Therapeutix reported a net product revenue of $7.4 million for Q4 2020, a 25% sequential increase over the third quarter. DEXTENZA net product revenue was $6.9 million, a 28% sequential increase. The company's cash and cash equivalents were $228.1 million as of December 31, 2020.

Ocular Therapeutix reported a productive quarter with key developments, including a 280% increase in DEXTENZA net product revenue compared to the prior quarter, driven by key initiatives and the re-opening of ASCs and HOPDs. The company also completed a common stock financing, raising $75.2 million net of fees, and announced a license agreement and collaboration for DEXTENZA and OTX-TIC in select Asian countries.

Ocular Therapeutix reported DEXTENZA net product revenue of $1.4 million for the second quarter. The company's cash and cash equivalents as of June 30, 2020, were $84.3 million, expected to provide funding for at least the next twelve months. They also saw a bounce back in DEXTENZA sales with nearly 2,300 in-market units sold in June, exceeding the previous monthly record by 40% and eclipsing $1 million of in-market sales in a calendar month for the first time.

Ocular Therapeutix announced its Q1 2020 financial results, highlighting a 31% sequential increase in DEXTENZA net product revenue, reaching $2.1 million. The company also reported positive Phase 3 clinical trial results for DEXTENZA in allergic conjunctivitis and plans to file an sNDA with the FDA by the end of 2020.

Ocular Therapeutix reported a strong end to 2019, with DEXTENZA net product revenue reaching $1.6 million, a 433% increase sequentially. The company is guiding first-quarter total net product revenue of $3.0 million to $3.2 million. Interim clinical data releases for OTX-TIC and OTX-TKI showed favorable safety profiles, tolerability, durability, and early biological activity.