Ocular Therapeutix (NSDQ:OCUL) shares ticked up today despite fourth-quarter results that missed the consensus revenue forecast.
The Bedford, Massachusetts-based company posted losses of $3.9 million, or 5¢ per share, on sales of $12.3 million for the three months ended Dec. 31, 2021, for a massive bottom-line gain moving from $85.6 million in losses this time last year towards breakeven on sales growth of 67.5%.
Adjusted to exclude one-time items, losses per share were 23¢, coming in level with projections on Wall Street, where analysts were looking for sales of $14.4 million.
“Ocular has had another strong quarter and a productive year,” Ocular Therapeutix President and CEO Antony Mattessich said in a news release. “Overall, we made great progress and look forward to a busy 2022 that will further advance our strong position within ophthalmology.”
Ocular Therapeutix did not provide financial guidance for the 2022 fiscal year.
OCUL shares were up 2.9% at $5.74 per share in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down 0.3%.