Ocular Therapeutix Q1 DEXTENZA revenue $12.5M (+87% YoY); net loss $12.5M; guides FY22 product rev $55-60M

OCULAR THERAPEUTIX, INC

2022-Q1 EPS reported -$0.22 revenue$13,187,000

DEXTENZA net product revenue $12.5M in Q1 2022, up 87% from $6.7M in Q1 2021.
Net loss $12.5M ($0.16 basic loss per share) vs. net income $3.1M in Q1 2021; includes $7M non-cash derivative liability adjustment.
Cash and equivalents $145.4M as of March 31, 2022; company believes sufficient through 2023.
Guides FY2022 DEXTENZA revenue $55-60M (26-38% growth); expands commercial team with VP Steve Meyers for office setting.
OTX-TKI Phase 1 fully enrolled, six-month data expected Q3 2022; OTX-TIC Phase 2 dosing began, triggering $2M milestone from AffaMed.

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