Ocular Therapeutix plans AXPAXLI NDA submission for wet AMD in Q4 2026
Company expects potential AXPAXLI commercial launch in 2027, if approved
Ocular expects topline SOL-R trial results in Q1 2028
Overview
US biopharmaceutical firm's Q2 product revenue was flat yr/yr
Net loss for Q2 widened compared to prior year
Company plans NDA submission for AXPAXLI in wet AMD in Q4 2026 after positive FDA meeting
Result drivers
Clinical trial spending - Higher research and development expenses driven by ongoing SOL-1, SOL-R, SOL-X and HELIOS-3 trials and NDA preparations for AXPAXLI
Commercial preparations - Increased selling and marketing costs due to expansion of commercial team and pre-commercial investments for potential AXPAXLI launch
Flat product revenue - Product revenue remained flat yr/yr as DEXTENZA sales saw only a slight increase, with no collaboration revenue in the quarter
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the pharmaceuticals peer group is "buy"
Wall Street's median 12-month price target for Ocular Therapeutix Inc is $28.00, about 242.7% above its July 31 closing price of $8.17
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