Ocular Therapeutix (OCUL) Misses Q1 EPS by 4c, Revenues Miss

Ocular Therapeutix (NASDAQ: OCUL) reported Q1 EPS of ($0.41), $0.04 worse than the analyst estimate of ($0.37). Revenue for the quarter came in at $2.61 million versus the consensus estimate of $2.84 million.

“The outlook for Ocular continues to brighten,” said Antony Mattessich, President and CEO. “As our development programs continue to perform in the clinic, changes in the regulatory and competitive landscapes give us even more confidence in our future. Successes in our clinical programs have us tracking toward target product profiles that could set the standard of care in disease areas like wet AMD, glaucoma, dry eye, and post-operative pain and inflammation while changes in the external environment make us more confident in the regulatory pathways and potential market acceptability of our programs. Similarly, concern over infection risk brought on by the COVID pandemic has sparked increased interest in truly “hands free” products like DEXTENZA that can replace 70 eye drops with a single physician-administered bioresorbable insert. As we see surgery centers and hospitals starting to schedule ophthalmic surgeries again, we are excited about our prospects of not only regaining but accelerating the momentum we saw through the middle of March for DEXTENZA.”

For earnings history and earnings-related data on Ocular Therapeutix (OCUL) click here.

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