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Dec 31, 2023
Ocular Therapeutix Q4 2023 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2023, announced leadership appointments, and highlighted progress in clinical trials.
Key Takeaways
Ocular Therapeutix reported a 5.0% increase in total net revenue for Q4 2023, reaching $14.8 million, driven by DEXTENZA sales. The company's cash and cash equivalents were $195.8 million as of December 31, 2023, which, combined with proceeds from a February 2024 private placement, is expected to fund operations into at least 2028.
Total net revenue for Q4 2023 was $14.8 million, a 5.0% increase year-over-year.
Research and development expenses for Q4 2023 were $16.2 million, compared to $13.5 million in the prior year.
Selling and marketing expenses for Q4 2023 were $9.2 million, compared to $10.5 million in the prior year.
Net loss for Q4 2023 was $(29.2) million, or $(0.35) per share.
Ocular Therapeutix
Ocular Therapeutix
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 at least 2028.