Ocular Therapeutix Q3 loss widens as product revenue drops, costs rise
OCUL•Ocular Therapeutix reported Q3 product revenue of $12.87 million and a net loss of $94.78 million, as product revenue fell year over year and costs rose. It had $530.6 million in cash on September 30 and expects to fund operations into 2028.
1. Quarterly results
Ocular Therapeutix said Q3 product revenue declined year over year and its net loss widened to $94.78 million. Loss per share was $0.42, while product revenue was $12.87 million.
2. Spending and outlook
The company attributed higher research and development expenses to accelerated enrollment in its HELIOS-3 diabetic retinopathy and SOL-X extension studies, as well as increased headcount and infrastructure. Higher selling and marketing expenses reflected added personnel and preparation for a potential AXPAXLI launch for wet AMD. Ocular Therapeutix plans to submit an AXPAXLI NDA in the fourth quarter of 2026 and expects SOL-R topline primary endpoint results in the first quarter of 2028.
3. Cash position
The company reported $530.6 million in cash as of September 30, 2026, which it expects to fund operations into 2028. It plans an interim SOL-R Week 52 safety analysis in the fourth quarter of 2026 for an NDA submission.
