Business
Ocular Therapeutix™ Reports First Quarter 2022 Financial Results and Business Update
DEXTENZA® (dexamethasone ophthalmic insert) 0.4 mg Recorded Quarterly Net Product Revenue of $12.5 Million, Representing Year-Over-Year Growth of 87% Guiding
About this update from Ocular Therapeutix, Inc.
[{"type":"text","content":"\nDEXTENZA® (dexamethasone ophthalmic insert) 0.4 mg Recorded Quarterly Net Product Revenue of $12.5 Million, Representing Year-Over-Year Growth of 87%\n\nGuiding DEXTENZA Annual Net Product Revenue for 2022 between $55 to $60 million, Representing Annual Growth of Approximately 26% to 38%\n\nExpanding Commercial Team to Address the Commercial Opportunity for DEXTENZA in the Office Setting\n\nTopline Data from the U.S.-based Clinical Trial for OTX-TKI for the Treatment of Wet AMD Anticipated in the Third Quarter of 2022\n\nDosing of Subjects in Phase 2 OTX-TIC Clinical Trial for the Treatment of Glaucoma Began in February, Triggering a $2M Milestone Clinical Support Payment from AffaMed Therapeutics\n\nConference Call to Discuss First Quarter Results to be Held at 4:30 p.m. ET\n\n BEDFORD, Mass.--(BUSINESS WIRE)--\nOcular 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 quarter ended March 31, 2022, and provided updates on its ophthalmology pipeline.\n\n“We have had a solid start to the year,” said Antony Mattessich, President and Chief Executive Officer. “Following a slowdown in cataract surgeries in January due to a spike in COVID-19 infections as a result of the Omicron variant, we saw a rebound in sales as the quarter progressed, culminating in approximately 10,500 billable units sold to ASCs and HOPDs in March—a monthly record by more than 500 units. Overall, net product revenue for DEXTENZA® reached $12.5M, an 87% increase over same quarter of the prior year. In the pipeline, we also saw great progress in the quarter as we completed enrollment of the U.S. Phase 1 clinical trial for OTX-TKI, our treatment for wet-AMD, and began dosing subjects in our Phase 2 clinical trial for OTX-TIC, our glaucoma product candidate. We look forward to announcing data from the OTX-TKI trial in the third quarter and enrolling the OTX-TIC trial as quickly as possible. We have a lot to look forward to over the course of this year from both a commercial and pipeline perspective.”\n\nRecent Business Updates\n\nThe U.S. Commercial Uptake of DEXTENZA.\n\n\nNet product revenue of DEXTENZA® for the quarter was $12.5 million, an 87% increase over the first quarter of 2021.\...