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Ocular Therapeutix, Inc.

NASDAQ•OCUL
CEO: Mr. Donald Notman Jr.
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2014-07-25
Ocular Therapeutix, Inc., a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis. It is developing AXPAXLI, an axitinib intravitreal implant that is in phase 3 trials for the treatment of wet age-related macular degeneration and other retinal diseases; PAXTRAVA, a travoprost intracameral implant, which is in phase 2 clinical trials for the treatment of open-angle glaucoma or ocular hypertension; OTX-CSI, a cyclosporine intracanalicular insert that has completed phase 2 clinical trials for the treatment of dry eye disease; and OTX-DED, a dexamethasone intracanalicular insert, which is in phase 2 clinical trials for the short-term treatment of the signs and symptoms of dry eye disease. In addition, the company offers modulator for intermediate and late dry age-related macular degeneration; and gene delivery for inherited retinal degenerations and protein biofactory indications. The company has a strategic collaboration with Regeneron Pharmaceuticals, Inc. (Regeneron) for the development and commercialization of products using the company's sustained-release hydrogel in combination with Regeneron's large molecule VEGF-targeting compounds for the treatment of retinal diseases; and AffaMed Therapeutics Limited for the development and commercialization of DEXTENZA and OTX-TIC. Ocular Therapeutix, Inc. was incorporated in 2006 and is headquartered in Bedford, Massachusetts.
Contact Information
15 Crosby Drive, Bedford, MA, 01730, United States
781-357-4000
www.ocutx.com
Market Cap
$1.91B
P/E (TTM)
-7.3
17.9
Dividend Yield
--
52W High
$16.44
52W Low
$5.80
52W Range
28%
Rank59Top 87.6%
2.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$13.25M+0.00%
4-Quarter Trend

EPS

-$0.29+0.00%
4-Quarter Trend

FCF

-$57.09M+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Cash Position Strengthened Cash and equivalents reached $737.1M, up significantly due to $561.7M financing inflow from 2025 Offering.
AXPAXLI Development Investment R&D expenses rose $69.5M to $197.1M, supporting progression of SOL/HELIOS Phase 3 clinical trials.
DEXTENZA Revenue Decline Net product revenue fell $11.6M to $51.8M, attributed primarily to Medicare cap and increased rebate impacts.
Stockholder Equity Growth Total stockholders' equity increased to $654.3M, driven by recent equity offerings and warrant exercises.

Risk Factors

Continued Operating Losses Expect incurring operating losses for several years; accumulated deficit reached $1.16B as of December 31, 2025.
AXPAXLI Regulatory Uncertainty FDA may require more data for AXPAXLI NDA submission, potentially delaying approval timeline significantly.
DEXTENZA Reimbursement Pressure DEXTENZA revenue decline linked to Medicare cap and MIPS inclusion; reimbursement changes pose ongoing risk.
Future Capital Requirements Additional funding likely needed to support AXPAXLI commercialization; failure risks delaying R&D programs.

Outlook

AXPAXLI Wet AMD Submission Intend to submit NDA based on SOL-1 Week 52 data, potentially using 505(b)(2) pathway for shorter review.
Diabetic Retinopathy Program Initiated HELIOS-3 Phase 3 superiority trial for NPDR in Q4 2025; planning HELIOS-2 trial based on SPA.
Long-Term Safety Extension Plan to initiate SOL-X multi-center, open-label safety extension trial for AXPAXLI in Q2 2026.
Manufacturing Scale-Up Investing in infrastructure to transform facility for initial expected commercial production levels of AXPAXLI.

Peer Comparison

Revenue (TTM)

GLPG stock ticker logoGLPG
$1.26B
+303.5%
RCUS stock ticker logoRCUS
$247.00M
-4.3%
LQDA stock ticker logoLQDA
$158.32M
+1031.2%

Gross Margin (Latest Quarter)

LQDA stock ticker logoLQDA
101.7%
+29.3pp
CLDX stock ticker logoCLDX
100.0%
+0.0pp
ABCL stock ticker logoABCL
100.0%
+588.5pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
IBRX$8.63B-23.664.3%175.0%
COGT$5.52B-7.0-100.2%27.0%
CELC$5.29B-31.4-179.0%67.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
7.4%
Steady Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Deep Research

Next earnings:May 4, 2026
|
EPS:-$0.32
|
Revenue:$12.53M
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement
LTM
No Data