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Ocular Therapeutix posts wider-than-forecast Q1 losses

May 10, 2019 By Danielle Kirsh

Ocular Therapeutix logoOcular Therapeutix (NSDQ:OCUL) posted first-quarter results today that were wider than the consensus on Wall Street, missing the earnings consensus and beating on revenue.

The Bedford, Mass.-based company reported losses of -$17.1 million, or -45¢ per share, on sales of $492,000 for the three months ended March 31, widening its losses by 24.4% on sales growth of 44.7% compared with Q1 2018.

Losses per share were -45¢, 3¢ ahead of the consensus on Wall Street, where analysts were looking for sales of $430,000.

“This is an exciting time at Ocular Therapeutix and it has been a very productive first quarter,” president & CEO Antony Mattessich said in prepared remarks. “We have made tremendous progress with Dextenza on a number of fronts and are pleased that the launch is in full roll-out. In addition, we have received a preliminary recommendation from the Center for Medicare & Medicaid Services for our permanent HCPCS J-code for Dextenza, and we were given a PDUFA target action date of November 2019 for the expansion of our Dextenza label to include the treatment of ocular inflammation following ophthalmic surgery. Beyond Dextenza, our pipeline continues to advance and we look forward to announcing results from our first Phase 3 clinical trial of OTX-TP in the next several weeks.”

OCUL shares closed down -1.9% at $3.66 apiece yesterday.

Filed Under: Wall Street Beat Tagged With: Ocular Therapeutix

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About Danielle Kirsh

Danielle Kirsh is an award-winning journalist and senior editor for Medical Design & Outsourcing, MassDevice, and Medical Tubing + Extrusion, and the founder of Women in Medtech and lead editor for Big 100. She received her bachelor's degree in broadcast journalism and mass communication from Norfolk State University and is pursuing her master's in global strategic communications at the University of Florida. You can connect with her on Twitter and LinkedIn, or email her at dkirsh@wtwhmedia.com.

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