Ocular Therapeutix beats The Street with Q2 results

Shares in Ocular Therapeutix (NSDQ:OCUL) rose this week after the company topped expectations on Wall Street with its second-quarter financial results.

The Bedford, Mass.-based company posted a net loss of -$13.8 million on sales of $648,000 for the three months ended June 30, representing sales growth of 48% compared with the same period last year.

Earnings per share were -37¢, ahead of consensus on The Street, where analysts were looking for sales of $430,000.

“We are encouraged with our progress through the first half of 2018,” president & CEO Antony Mattessich said in prepared remarks. “The on-time resubmission and establishment of a December 28^th PDUFA date for Dextenza were critical achievements and we are pleased to have accomplished them. Clearly, we need to demonstrate that the transformation we have experienced internally translates to externally-validated results. While the team understands the approval of Dextenza is our top priority, we will continue to drive our pipeline forward which should be increasingly appreciated as we demonstrate our ability to execute.”

OCUL shares were trading at $5.96 apiece today in morning activity, up 7.6%.

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