Ocular Therapeutix (NSDQ:OCUL) this week posted third-quarter results that missed the overall consensus on Wall Street.
The Bedford, Massachusetts-based company reported net losses of $24.2 million, or -31¢ per share, on sales of $11.97 million for the three months ended Sept. 30, for a bottom-line loss over Q3 2021 when it reported $2.65 million in profits. Sales were down 1.55% year-over-year.
Earnings per share were 7¢ behind The Street, where analysts were looking for sales of $14.27 million.
“We presented arguably the most important clinical data in the company’s history at this year’s AAO meeting,” President and CEO Antony Mattessich said in a news release. “In the 7-month data from our U.S.-based Phase 1 clinical trial of a 600 µg, single implant OTX-TKI for the treatment of controlled wet AMD, 80% and 73% of subjects were rescue-free up to 6 and 7 months, respectively. In addition to our goal of moving OTX-TKI into a Phase 2/3 trial for the…