Ocular Therapeutix (NASDAQ: OCUL) reported Q2 EPS of ($0.64), $0.33 worse than the analyst estimate of ($0.31). Revenue for the quarter came in at $1.57 million versus the consensus estimate of $1.5 million.

“Despite the challenges caused by the global pandemic, it has been a very productive quarter for Ocular Therapeutix,” said Antony Mattessich, President and CEO. “Our clinical programs continue to support potential product profiles that, if approved, we believe could become the standards-of-care in the treatment of Wet AMD, glaucoma and ocular surface diseases including dry-eye disease and allergic conjunctivitis. We also added a new program for the treatment of episodic dry eye. We have positioned ourselves to potentially enter Phase 2 trials on four major programs within the next 12 months that could, if approved, compete in some of the largest global ophthalmology markets. On the sales side, despite the global COVID-19 pandemic, we saw a welcome bounce back in DEXTENZA® sales with nearly 2,300 in-market units sold in June, exceeding our previous monthly record by 40% and eclipsing $1 million of in-market sales in a calendar month for the first time. With a new rebate program and the establishment of physician reimbursement fee schedules for the insertion of DEXTENZA at two Medicare Administrative Contractors that cover approximately 30% of the Medicare population, we expect, subject to the potential impact of the pandemic, adoption trends to accelerate in the second half of the year.”

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