Oculus Innovative Sciences (OCLS): Building a Commercial Presence - Maxim Group

Maxim Group analyst, Jason Kolbert, noted that Oculus Innovative Sciences (NASDAQ: OCLS) reported 2016-YE (FY-end Mar. 31) results with total revenues of $15M, up 9% compared to 2015-YE. Product revenues were $13M, representing a 31% increase from prior year. Total product revenues include $4.4M in U.S. sales, a 121% increase compared to annual U.S. sales of $2M in 2015. Net loss was $10M, or ($0.62) per share. The company ended the period with $7.5M in cash.

Oculus continues to build its commercial presence in the dermatology space. The company has doubled its direct sales force to now more than 20 representatives, marketing seven products in the U.S. with a cumulative 33,100 prescriptions filled. Oculus plans to expand its sales team to 35 reps, covering 3,000-5,000 dermatologists in the U.S.

No change to Buy rating or price target of $3.00.

For an analyst ratings summary and ratings history on Oculus Innovative Sciences click here. For more ratings news on Oculus Innovative Sciences click here.

Shares of Oculus Innovative Sciences closed at $0.97 yesterday.

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