Shares in Ocular Therapeutix (NSDQ:OCUL) fell today after the company missed EPS estimates on Wall Street with its third-quarter financial results.
The Bedford, Mass.-based company posted a net loss of -$15 million on sales of $498,000 for the 3 months ended Sept. 30. Sales for the quarter were down -5% compared with the same period last year.
Earnings per share were -38¢, falling just behind the -36¢ consensus on The Street.
“It has been another busy quarter highlighted by continued progress on Dextenza as well as the rest of our deep product pipeline,” president & CEO Antony Mattessich said in prepared remarks.
In July, the FDA formally accepted Ocular Therapeutix’s resubmitted new drug application for Dextenza, an ocular implant designed to deliver pain-relief drugs following eye surgery.
The FDA issued a complete response letter to the company last year, rejecting Ocular’s Dextenza application for the second time. The U.S. regulatory agency is set to decide whether or not to approve Dextenza based on its revised application by Dec. 28.
Mattessich noted that the FDA has finished its pre-approval inspection for Dextenza and remains on track to make a final decision by December.
OCUL shares were trading at $4.91 apiece today in morning activity, down -9.2%.
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