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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.
Ocular Therapeutix
Ocular Therapeutix
Ocular Therapeutix Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comCollaboration Revenue
CapyFin.com 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