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Mar 31, 2024
Ocular Therapeutix Q1 2024 Earnings Report
Ocular Therapeutix reported first quarter 2024 results, highlighting progress in the AXPAXLI™ SOL-1 Phase 3 wet AMD trial and a strong cash position expected to support operations into 2028.
Key Takeaways
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.
Total net revenue increased by 10.4% to $14.8 million compared to the same period in 2023.
Cash and cash equivalents were $482.9 million as of March 31, 2024, expected to support operations into 2028.
The Phase 3 SOL-1 study for AXPAXLI™ in wet AMD is progressing with first subjects randomized in April 2024.
Net loss for the first quarter of 2024 was $(64.8) million, or a net loss of $(0.49) per share.
Revenue by Segment
Forward Guidance
Based on current plans and related estimates of anticipated cash inflows from DEXTENZA®, the Company believes that its current cash balance is sufficient to support its planned expenses, obligations, and capital expenditure requirements into 2028.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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