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Jun 30, 2024
Ocular Therapeutix Q2 2024 Earnings Report
Ocular Therapeutix reported second quarter 2024 financial results and provided recent business highlights.
Key Takeaways
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.
Total net revenue was $16.4 million, an 8.3% increase year-over-year.
Research and development expenses increased to $28.9 million due to clinical trial activities.
FDA confirmed SOL-R is acceptable as a registrational trial.
Cash and cash equivalents were $459.7 million as of June 30, 2024, expected to fund operations into 2028.
Ocular Therapeutix
Ocular Therapeutix
Forward Guidance
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 in 2023.
Positive Outlook
- Full-year 2024 total net revenues for DEXTENZA to be between $62.0 million and $67.0 million