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Dec 31, 2020
Ocular Therapeutix Q4 2020 Earnings Report
Ocular Therapeutix reported Q4 2020 financial results and provided a business update.
Key Takeaways
Ocular Therapeutix reported a net product revenue of $7.4 million for Q4 2020, a 25% sequential increase over the third quarter. DEXTENZA net product revenue was $6.9 million, a 28% sequential increase. The company's cash and cash equivalents were $228.1 million as of December 31, 2020.
In-market purchases of DEXTENZA exceeded 14,000 billable units, representing sequential quarterly growth of greater than 40%.
Interim data from the Phase 1 clinical trial of OTX-TKI showed preliminary biological activity with a decrease in retinal fluid.
Interim data from the Phase 1 clinical trial of OTX-TIC showed a mean reduction in intraocular pressure from baseline of 7-11 mm Hg.
The FDA has set an action date of October 18, 2021, for the sNDA for DEXTENZA allergic conjunctivitis.
Ocular Therapeutix
Ocular Therapeutix
Ocular Therapeutix Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.com Forward Guidance
Based on current plans, existing cash and cash equivalents as of December 31, 2020, will enable the Company to fund planned operating expenses, debt service obligations, and capital expenditure requirements through 2023.
Challenges Ahead
- The cash guidance is subject to a number of assumptions including those related to the severity and duration of the COVID-19 pandemic.
- The cash guidance is subject to revenues and expenses associated with the commercialization of DEXTENZA.
- The cash guidance is subject to the pace of research and clinical development programs.
- The cash guidance is subject to other aspects of the business.