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Jun 30, 2021
Ocular Therapeutix Q2 2021 Earnings Report
Ocular Therapeutix reported financial results for the second quarter of 2021, with DEXTENZA recording net quarterly sales of $11.1 million, representing approximately 65% sequential growth.
Key Takeaways
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.
DEXTENZA net product revenue reached $11.1 million, a nearly 700% increase over Q2 2020.
Record quarterly in-market sales of nearly 25,000 billable units of DEXTENZA, a 50% sequential increase over Q1 2021.
First patient dosed in the U.S.-based clinical trial evaluating OTX-TKI for wet AMD.
CMS recommended extending pass-through status of DEXTENZA through the end of 2022.
Ocular Therapeutix
Ocular Therapeutix
Ocular Therapeutix Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.com Forward Guidance
Ocular Therapeutix expects continued momentum with DEXTENZA, including a PDUFA date in allergic conjunctivitis in October, and further development of its pipeline, including the expected completion of a Phase 2 clinical trial with OTX-CSI.
Positive Outlook
- Continued momentum with DEXTENZA
- PDUFA date in allergic conjunctivitis in October
- Further development of pipeline
- Expected completion of Phase 2 clinical trial with OTX-CSI
- Existing cash and cash equivalents will enable the Company to fund planned operating expenses, debt service obligations and capital expenditure requirements through 2023.
Challenges Ahead
- Severity and duration of the COVID-19 pandemic
- Revenues, expenses and reimbursement associated with DEXTENZA
- Pace of research and clinical development programs
- Assumptions related to cash inflows from DEXTENZA and ReSure product sales
- Cash outflows from operating expenses