Ocular Therapeutix Q4 revenue falls 22.4% yr/yr

Overview

• Biopharmaceutical firm's Q4 2025 revenue fell 22.4% yr/yr due to reimbursement challenges

• Net loss for Q4 2025 widened compared to the same period last year

• Company holds $737.1 mln cash balance as of Dec 31, 2025, with runway into 2028

Outlook

• Company plans to submit NDA for AXPAXLI in wet AMD pending positive SOL-1 results

• SOL-R Phase 3 trial topline results expected in 1Q 2027

• HELIOS-3 Phase 3 trial in diabetic retinopathy underway

Result Drivers

• CLINICAL TRIAL PROGRESS - Ocular Therapeutix is advancing its SOL-1 and SOL-R Phase 3 trials for AXPAXLI in wet AMD, with SOL-1 data expected soon and SOL-R randomization completed

• REIMBURSEMENT CHALLENGES - Revenue decline attributed to a more challenging reimbursement environment for DEXTENZA despite high unit sales

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Ocular Therapeutix Inc is $22.50, about 163.2% above its February 4 closing price of $8.55

Press Release: ID:nGNX8wXd35

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