Ocular Therapeutix (NASDAQ: OCUL) reported Q1 EPS of ($0.44), $0.01 worse than the analyst estimate of ($0.43). Revenue for the quarter came in at $458 thousand versus the consensus estimate of $450 thousand.

As of March 31, 2016, cash, cash equivalents and marketable securities totaled $95.5 million. Cash used in operating activities was $9.3 million in the first quarter of 2016, compared to $6.9 million for the first quarter of 2015.

“This is an exciting time for Ocular Therapeutix, as we anticipate multiple key milestones throughout the remainder of 2016, including the July 2016 PDUFA date for DEXTENZA for the treatment of post-surgical ocular pain, as well as expected read-outs from our second Phase 3 DEXTENZA clinical trial for the treatment of allergic conjunctivitis and our third Phase 3 clinical trial for the treatment of post-surgical ocular inflammation and pain,” said Amar Sawhney, Ph.D., President, Chief Executive Officer and Chairman. “Following the completion of an End-of-Phase 2 review with the FDA last month, we are also gearing up to initiate the first of two planned Phase 3 clinical trials with OTX-TP for the treatment of glaucoma and ocular hypertension. We believe that successful outcomes for these milestones have the potential to affirm the growing value of our innovative sustained-release platform in addressing diverse applications in ophthalmology.”

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