Ocular Therapeutix Inc ( (OCUL) ) has released its Q4 earnings. Here is a breakdown of the information Ocular Therapeutix Inc presented to its investors.
Ocular Therapeutix, Inc. is a biopharmaceutical company focused on innovative treatments for retinal diseases, utilizing its proprietary ELUTYX™ bioresorbable hydrogel technology. The company recently reported its fourth quarter and full year 2024 financial results, highlighting significant progress in its AXPAXLI™ clinical trials for wet age-related macular degeneration (wet AMD).
In 2024, Ocular Therapeutix made strides in its AXPAXLI registrational program, receiving FDA approval for protocol amendments that may enhance dosing flexibility and accelerate registration timelines. The company’s cash position remains strong, with $392.1 million on hand, expected to fund operations into 2028 without the need for additional capital this year.
Key financial metrics include a 15.4% increase in fourth-quarter revenue to $17.1 million and a 9% rise in full-year revenue to $63.7 million, driven by DEXTENZA sales. However, the company reported a net loss of $193.5 million for the year, attributed to increased research and development expenses related to its clinical trials.
Looking ahead, Ocular Therapeutix is optimistic about its future, with plans to expand AXPAXLI’s application to other retinal diseases, such as non-proliferative diabetic retinopathy and diabetic macular edema. The company aims to leverage its strong financial position and clinical trial momentum to establish itself as a leader in the retina sector.