Ocular Therapeutix Q1 Loss of $88.6M, AXPAXLI Phase 3 Shows 65.9% Vision Maintenance
OCUL•Ocular Therapeutix reported a Q1 loss of $88.6M (40¢ per share) on $10.8M revenue, missing estimates of 32¢ and $12.7M. The company holds $666.7M cash runway to 2028 and plans an NDA for AXPAXLI after Phase 3 SOL-1 showed 65.9% vision maintenance at Week 52 versus 44.2% with aflibercept.
1. First Quarter Financial Results
Ocular Therapeutix reported Q1 net loss of $88.6 million (40 cents per share) on revenue of $10.8 million, both missing analyst expectations of a 32-cent loss and $12.7 million revenue.
2. Phase 3 SOL-1 Superiority Trial
The SOL-1 trial demonstrated AXPAXLI achieved 74.1% vision maintenance at Week 36 and 65.9% at Week 52 versus 55.8% and 44.2% for aflibercept, with superior anatomic control and no serious treatment-related ocular or systemic adverse events.
3. Cash Position and Regulatory Plans
The company held $666.7 million in cash as of March 31, 2026, extending runway into 2028, has initiated enrollment in the SOL-X extension trial, is on track for SOL-R topline data in Q1 2027, and intends to submit an NDA based on SOL-1 Week 52 data.
