Ocular Therapeutix (NSDQ:OCUL) reported fourth-quarter results that missed the consensus forecast.
The Bedford, Mass.–based eye disease therapeutic developer posted losses of –$85.6 million, or –$1.21 per share, on sales of $7.3 million for the three months ended Dec. 31, 2020, for a massive bottom-line slide from losses of –$26 million last year despite more than tripling revenue numbers from $2.3 million.
Adjusted to exclude one-time items, earnings per share were –23¢, a nickel behind Wall Street, while the company’s revenues missed the analysts’ projections by –4.9%.
“The fourth quarter marked considerable commercial, clinical and regulatory progress for the Company,” Ocular Therapeutix president & CEO Antony Mattessich said in a news release. “Physician interest in Dextenza remains high, and despite the challenging backdrop of COVID, adoption by ASCs and HOPDs continues to drive strong growth in reported sales. In the fourth quarter of 2020, in-market purchases were in excess of 14,000 billable units, representing sequential quarterly growth of greater than 40%.
“Beyond Dextenza, we have a unique pipeline of ophthalmology product candidates that each target indications within multi-billion dollar segments of the ophthalmology market. In 2021 we look forward to initiating multiple Phase 2 programs.”
Ocular Therapeutix did not offer 2021 financial guidance.
OCUL shares were up slightly to $20.33 apiece this morning. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down slightly