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Ocular Therapeutix™ Provides First Quarter 2023 Financial Results and Corporate Update
12-month Top-Line Data from the U.S.-based Phase 1 Clinical Trial of OTX-TKI (axitinib intravitreal implant) for the Treatment of Wet AMD to be Presented in
About this update from Ocular Therapeutix, Inc.
[{"type":"text","content":"12-month Top-Line Data from the U.S.-based Phase 1 Clinical Trial of OTX-TKI (axitinib intravitreal implant) for the Treatment of Wet AMD to be Presented in June at the Clinical Trials at the Summit 2023 Meeting Presented Pre-Clinical and Clinical Data on Three Pipeline Programs at the 2023 Association for Research in Vision and Ophthalmology (ARVO) Annual Meeting held April 23rd to 27th DEXTENZA® Net Product Revenue in the First Quarter of 2023 was $13.2 million, Representing Growth of Approximately 6% Over the First Quarter of 2022 Reiterated DEXTENZA Net Product Revenue for the Year Ending 2023 is Estimated to be between $55 and $60 million, Representing Anticipated Growth of Approximately 10% to 20% Over 2022 BEDFORD, Mass., May 08, 2023 (GLOBE NEWSWIRE) -- Ocular Therapeutix, Inc. (NASDAQ:OCUL), a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, today reported financial results for the first quarter ended March 31, 2023, and provided updates on its ophthalmology pipeline. “The strong start to the year has continued through the end of the first quarter,” said Antony Mattessich, President and CEO. “We have been in productive conversations with the FDA and believe we have a pivotal design for OTX-TKI in diabetic retinopathy and two potential designs in wet AMD. While we are eager to advance both of these programs, we look forward to sharing top-line 12-month data from our U.S.-based Phase 1 trial for OTX-TKI in wet AMD at the Clinic Trials at the Summit meeting being held in June. We are also making excellent progress advancing our next late-stage program, the Phase 2 trial of OTX-TIC for the treatment of glaucoma. This trial continues to enroll well, and we continue to anticipate providing top-line data from this trial in the fourth quarter of 2023. Glaucoma represents another large potential ophthalmology market where we believe our hydrogel technology, which we have branded as Elutyx™, has the potential to redefine the current standard of care. On the commercial side, DEXTENZA finished with a strong quarter. In-market billable unit volumes were approximately 8% ahead of fourth quarter volumes, and we continue to guide towards a full year 2023 net product revenue of $55 to $60 million. Overall, I am pleased with our contin...