OCUL Stock In Spotlight After Q2 Loss Comes In Narrower Than Estimated – A Look At Key Highlights

Ocular’s total cash and cash equivalents stood at $598.6 million at the end of the second quarter, which it expects will provide sufficient cash runway until 2028.

• For the second quarter, total revenue came in at $13.5 million with a loss of $0.35 per share.
• The company said it has plans to submit a new drug application for AXPAXLI in wet AMD in the fourth quarter this year.
• For its HELIOS-3 diabetic retinopathy study, the company said it has streamlined the program as a potential single registrational trial.

Ocular Therapeutix (OCUL) on Monday reported its second quarter results and shared a roadmap for AXPAXLI, its proposed treatment for retinal diseases including wet age-related macular degeneration (wet AMD) and diabetic retinopathy.

As of the writing, OCUL stock is up nearly 2%.

OCUL’s Plans For AXPAXLI

The company said it plans to submit a new drug application for AXPAXLI in wet AMD in the fourth quarter this year, and would file it under the 505(b)(2) pathway, which could accelerate the review timeline by up to 60 days. A pre-NDA meeting with the Food and Drug Administration is also planned in the third quarter.

At the moment, AXPAXLI is being evaluated in a Phase 3 SOL-R trial in patients with wet AMD, with topline results expected in the first quarter of 2028. The company is also continuing to enroll subjects in the SOL-X wet AMD trial.

For its HELIOS-3 diabetic retinopathy study, the company said it has streamlined the program as a potential single registrational trial and will now evaluate AXPAXLI dosed every 12 months against placebo, and reduced the trial size to 620 from 930 patients.

OCUL Q2 Results At A Glance

For the second quarter, Ocular’s total revenue was flat at $13.5 million, beating the Koyfin consensus estimate of $13.2 million. The firm reported a loss of $0.35 per share, narrower than the estimated loss of $0.39 per share.

Total expenses for the company rose nearly 18% to $95.6 million. Total cash and cash equivalents stood at $598.6 million at the end of the quarter, which Ocular expects will provide sufficient cash runway until 2028.

What Does Retail Think About OCUL

On Stocktwits, retail sentiment toward OCUL remained in ‘bearish’ territory over the last 24 hours. 

One user on the platform pointed out that the company is in a comfortable liquid position and is on track with its study programs.

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OCUL stock has fallen more than 32% so far this year and has declined by roughly 30% over the past 12 months.

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