Ocular Therapeutix reports Q2 EPS (26c), consensus (30c)

Reports Q2 revenue $15.19M, consensus $14.65M. “The progress at Ocular Therapeutix over this last quarter has been significant,” said Antony Mattessich, President and CEO. “We reached the milestone of $15.0 million in DEXTENZA net product revenues for the quarter and achieved revenue growth of 24% over the same quarter prior year and 14% over the previous quarter. This represents the third straight quarter of sequential growth of in-market unit sales and gives us great confidence in DEXTENZA’s ability to augment funding of our fast-developing pipeline. As importantly, we now have a path forward with OTX-TKI in wet AMD and expect to initiate our first pivotal trial in the United States for wet AMD before the end of this quarter. We were also able to secure a credit facility of $82.5M that puts the funding in place to be able to initiate the trial and extends our runway into 2025. We believe that our successes in R&D and improved commercial performance have positioned us well for the future.”