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Investing.com -- Ocular Therapeutix Inc . (NASDAQ:OCUL) shares tumbled 8.6% after the retina-focused biopharmaceutical company reported second-quarter results that missed analyst expectations on both earnings and revenue fronts.
The company posted a loss of -$0.39 per share for the quarter ended June 30, 2025, wider than the analyst estimate of -$0.35. Revenue came in at $13.46 million, slightly below the consensus estimate of $13.56 million and representing an 18.1% decrease compared to the $16.4 million reported in the same quarter last year. The revenue decline occurred despite a 5% increase in DEXTENZA end-user unit sales, which the company attributed to "an evolving and significantly more challenging reimbursement environment."
"We are entering the most important phase of Ocular Therapeutix’s history, marked by consistent execution, growing clinical conviction, and a clear roadmap to redefine the retina treatment landscape," said Pravin U. Dugel, MD, Executive Chairman, President and CEO of Ocular Therapeutix.
The company’s research and development expenses increased substantially to $51.1 million, up from $28.9 million in the comparable quarter of 2024, reflecting higher costs associated with its SOL-1 and SOL-R Phase 3 clinical trials for AXPAXLI in wet AMD (NASDAQ:AMD).
Ocular Therapeutix reported $391.1 million in cash and cash equivalents as of June 30, which it believes will support operations into 2028. In June, the company raised approximately $97 million through its at-the-market facility to provide additional financial flexibility.
The company expects topline data from its SOL-1 Phase 3 trial in wet AMD in the first quarter of 2026, followed by SOL-R topline data in the first half of 2027. Ocular plans to file a New Drug Application shortly after the SOL-R results.
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