**Ocular Therapeutix, Inc. Announces Third Quarter 2024 Financial Results and Business Highlights** **

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Ocular Therapeutix, Inc. (NASDAQ: OCUL) recently released its financial results for the quarter ended September 30, 2024. The company reported total net revenue of $15.4 million for the third quarter, reflecting a 2.3% increase over the revenue of $15.1 million in the same period last year. This growth was primarily driven by increased gross revenues from DEXTENZA sales, although it was partially offset by higher gross-to-net provisions compared to the prior year.

Research and development expenses for the third quarter of 2024 stood at $37.1 million, up from $15.0 million in the comparable period in 2023. This increase was attributed to higher clinical expenses associated with product development programs, particularly the SOL-1 and SOL-R Phase 3 clinical trials, along with additional personnel and professional services to support these trials.

Selling and marketing expenses totaled $10.6 million in the third quarter of 2024, compared to $9.3 million in the same quarter of 2023. This rise was primarily due to increased professional fees and personnel costs, including stock-based compensation.

General and administrative expenses amounted to $12.2 million for the third quarter of 2024, up from $8.6 million in the same quarter of 2023. This increase was driven by higher professional fees and personnel-related costs, including stock-based compensation.

The net loss for the third quarter of 2024 was $(36.5) million, equating to a net loss of $(0.22) per share on both a basic and diluted basis. This contrasts with a net loss of $(0.5) million, or a net loss of $(0.01) per share on a basic basis and $(0.25) per share on a diluted basis, for the comparable period in 2023. The net loss in the third quarter of 2024 included a $7.6 million non-cash gain associated with changes in the fair value of the derivative liability related to the Barings Credit Facility.

Furthermore, Ocular Therapeutix disclosed a cash balance of $427.2 million as of September 30, 2024, which the company believes will be adequate to fund its operations, obligations, and capital expenditure requirements into 2028.

The company also provided details on its recent achievements and upcoming milestones. This included an update on the Phase 3 registrational program for AXPAXLI™ (axitinib intravitreal implant) in development for wet age-related macular degeneration (wet AMD). Moving forward, Ocular Therapeutix anticipates continued progress and execution as it advances towards its milestone year in 2025.

Additionally, Ocular Therapeutix will be hosting a conference call and webcast today, November 14th, at 8:00 AM ET to discuss recent business progress and the third quarter 2024 financial results.

The company’s product candidates, aimed at improving vision through innovative therapies for retinal diseases and other eye conditions, continue to show promise in the market. Ocular Therapeutix remains committed to advancing its development programs and achieving significant milestones in the coming years.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ocular Therapeutix’s 8K filing here.

About Ocular Therapeutix

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.