Business
Ocular Therapeutix™ Reports Fourth Quarter and Year End 2019 Financial Results and Business Update
Fourth Quarter DEXTENZA® Net Product Revenue of $1.6 million, a 433% Sequential Increase; Guiding First Quarter Total Net Product Revenue of $3.0 million to
About this update from Ocular Therapeutix, Inc.
[{"type":"text","content":"\nFourth Quarter DEXTENZA® Net Product Revenue of $1.6 million, a 433% Sequential Increase; Guiding First Quarter Total Net Product Revenue of $3.0 million to $3.2 million\n\n\nPresented Interim Clinical Data Releases for OTX-TIC and OTX-TKI Showing Favorable Safety Profile, Tolerability, Durability and Early Biological Activity\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 announced financial results for the fourth quarter and year ended December 31, 2019 and provided a business update.\n\n\n“Ocular Therapeutix has had an impressive final quarter of 2019 and strong start to 2020,” said Antony Mattessich, President and Chief Executive Officer. “Key performance indicators on the launch of DEXTENZA point to a building momentum, most notably in the number of billable inserts ordered by ASC’s and hospitals that show a definitive acceleration. We are equally excited on the product development side by interim results from our two Phase 1 programs: in our OTX-TIC program, signals support the possibility for a product that could have both the magnitude and duration of effect to become a standard of care in the treatment of elevated IOP; and, most encouragingly, in our OTX-TKI program, we have seen a signal of biologic effect, observing a reduction in sub-retinal and intra-retinal fluid in some patients with wet AMD. Both of these early programs have the potential to shift current treatment paradigms.”\n\n\nKey Program Updates\n\n\nDEXTENZA® (dexamethasone ophthalmic insert) 0.4 mg\n\n\nDEXTENZA is an FDA-approved corticosteroid indicated for the treatment of ocular inflammation and pain following ophthalmic surgery.\n\n\n\nU.S. Commercial Launch of DEXTENZA \n\n\nThe Company reported net product revenue of DEXTENZA in the fourth quarter ended December 31, 2019 of $1.6 million versus $0.3 million in the third quarter ended September 30, 2019, an amount which reflects a 433% sequential increase. DEXTENZA was commercially launched in July 2019 and received its J-code in October of the same year.\n\n\nThe Company continues to increase the number of new accounts, including seeing larger accounts adopting DEXTENZA, and the number of existing accounts...