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Mar 31, 2025
Ocular Therapeutix Q1 2025 Earnings Report
Ocular Therapeutix reported a net loss in Q1 2025 driven by lower product revenues and increased R&D spending.
Key Takeaways
Revenue declined year-over-year primarily due to weaker DEXTENZA sales, while R&D expenses surged to support key late-stage trials for AXPAXLI.
Revenue by Segment
Forward Guidance
Management expects stronger product revenue for the remainder of 2025 driven by sales strategy shifts and payment eligibility changes.
Positive Outlook
- Cash runway expected through 2028
- SOL-1 trial retention remains strong
- SOL-R enrollment accelerated due to protocol amendment
- Positive FDA feedback on NPDR trial design
- Separate payment reinstated for DEXTENZA in HOPDs
Challenges Ahead
- Revenue declined due to reduced DEXTENZA sales
- Lower distributor and ASC buying patterns affected topline
- Higher R&D expenses from Phase 3 trials
- Net loss remained elevated year-over-year
- Revenue drop influenced by MIPS-related changes
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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