Ocular Therapeutix reports Q4 EPS (24c), consensus (25c)

Reports Q4 revenue $14.08M, consensus $13.53M. "2022 was a productive year for Ocular and we are off to a great start in 2023," said Antony Mattessich, president and CEO. "Most notably, we are really excited to see the potential value of our pipeline continue to emerge following the recent interim data we shared on OTX-TKI, our axitinib-containing hydrogel insert for the treatment of wet AMD, diabetic retinopathy and other VEGF-mediated retinal diseases. We believe the results we shared in February at the Angiogenesis Annual Meeting demonstrated the potential for best-in-class durability in a $15B global market for wet AMD and diabetic retinopathy that is increasingly driven by durability. As we enter 2023, we expect our pipeline to achieve key milestones as we look to advance OTX-TKI into pivotal trials and also present much anticipated top-line data from our Phase 2 clinical trial of OTX-TIC for the treatment of glaucoma. On the commercial side, DEXTENZA has established itself as a material and important product and I am encouraged that we have begun to regain sales momentum with volumes up more than 20% in in-market sales over the first two months of 2023 versus 2022. Overall, I am pleased with our progress and believe the realization of anticipated milestones in 2023 will further our corporate mission of becoming a mid-tier strategic within ophthalmology."