Ocular Therapeutix, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Ocular Therapeutix, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, providing an update on its financial and operational status.</b>

AI Summary

OCULAR THERAPEUTIX, INC (OCUL) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Ocular Therapeutix, Inc. filed a 10-Q report for the quarterly period ended March 31, 2024. The filing details financial information and business operations for the specified period. Key financial statement data and disclosures are included in the report. The company's address is 15 Crosby Drive, Bedford, MA 01730. The filing was submitted on May 7, 2024.

Why It Matters

For investors and stakeholders tracking OCULAR THERAPEUTIX, INC, this filing contains several important signals. This 10-Q filing provides investors and stakeholders with the latest financial performance and operational highlights of Ocular Therapeutix, Inc. for the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's current financial health, strategic direction, and potential future performance in the pharmaceutical preparations sector.

Risk Assessment

Risk Level: medium — OCULAR THERAPEUTIX, INC shows moderate risk based on this filing. The company's financial health and future prospects are subject to the inherent risks of the pharmaceutical industry, including regulatory approvals, market competition, and product development success, as detailed in their SEC filings.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-Q to assess Ocular Therapeutix's Q1 2024 performance and outlook.

Key Numbers

• 20240331 — Period End Date (Conformed Period of Report)
• 20240507 — Filing Date (Filed as of Date)
• 0001393434 — Central Index Key (Filer's Central Index Key)
• 2834 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• OCULAR THERAPEUTIX, INC (company) — Filer name
• 0001558370-24-007065 (other) — Accession Number
• 20240331 (date) — Conformed Period of Report
• 20240507 (date) — Filed as of Date
• 0001393434 (company) — Central Index Key
• 2834 (other) — Standard Industrial Classification (SIC)
• 15 CROSBY DRIVE (address) — Business Address Street 1
• BEDFORD (location) — Business Address City

FAQ

Industry Context

Ocular Therapeutix operates in the pharmaceutical preparations industry, focusing on developing and commercializing innovative therapies.

Regulatory Implications

The company is subject to regulations by the U.S. Securities and Exchange Commission (SEC) for its public filings, including this 10-Q report.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and net income for Q1 2024.
2. Review any disclosed updates on product development, clinical trials, or regulatory milestones.
3. Examine the Management's Discussion and Analysis (MD&A) section for insights into operational performance and future outlook.

Key Dates

• 2024-03-31: Quarterly Period End — Financial reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the first quarter of 2024, following previous filings which would include annual reports (10-K) and potentially other quarterly reports.

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share OCUL The Nasdaq

Filing Documents

• ocul-20240331x10q.htm (10-Q) — 1335KB
• ocul-20240331xex10d7.htm (EX-10.7) — 77KB
• ocul-20240331xex10d8.htm (EX-10.8) — 21KB
• ocul-20240331xex31d1.htm (EX-31.1) — 12KB
• ocul-20240331xex31d2.htm (EX-31.2) — 8KB
• ocul-20240331xex32d1.htm (EX-32.1) — 5KB
• ocul-20240331xex32d2.htm (EX-32.2) — 5KB
• 0001558370-24-007065.txt (&nbsp;) — 5929KB
• ocul-20240331.xsd (EX-101.SCH) — 44KB
• ocul-20240331_cal.xml (EX-101.CAL) — 44KB
• ocul-20240331_def.xml (EX-101.DEF) — 210KB
• ocul-20240331_lab.xml (EX-101.LAB) — 339KB
• ocul-20240331_pre.xml (EX-101.PRE) — 313KB
• ocul-20240331x10q_htm.xml (XML) — 831KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 35

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 5. Other Information 36 Item 6. Exhibits 37

SIGNATURES

SIGNATURES 40 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this Quarterly Report on Form 10-Q, including statements regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management, are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "target," "potential," "goals," "will," "would," "could," "should," "continue" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements in this Quarterly Report on Form 10-Q include, among other things, statements about: our ongoing clinical trials, including the pivotal Phase 3 clinical trial of AXPAXLI that we initiated for the treatment of wet age-related macular degeneration, or wet AMD, and which we refer to as the SOL-1 trial; our Phase 1 clinical trials of AXPAXLI for the treatment of wet AMD; our Phase 1 clinical trial of AXPAXLI for the treatment of non-proliferative diabetic retinopathy, or NPDR, which we refer to as the HELIOS trial; our Phase 2 clinical trial of PAXTRAVA for the reduction of intraocular pressure, or IOP, in patients with primary open-angle glaucoma, or OAG, or ocular hypertension, or OHT; our Phase 2 clinical trial of OTX-DED for the short-term treatment of the signs and symptoms of dry eye disease; and our clinical trial to evaluate DEXTENZA in pediatric subjects following cataract surgery; our planned additional clinical trials of AXPAXLI for the treatment of wet AMD and any additional clinical trials we might determine in the future to conduct for our product candidates; determining our next steps for AXPAXLI for the treatment of patients w

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. Ocular Therapeutix, Inc. Condensed Consolidated Balance Sheets (In thousands, except share and per share data) (Unaudited) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 482,888 $ 195,807 Accounts receivable, net 26,546 26,179 Inventory 2,574 2,305 Restricted cash 150 150 Prepaid expenses and other current assets 7,666 7,794 Total current assets 519,824 232,235 Property and equipment, net 11,450 11,739 Restricted cash 1,614 1,614 Operating lease assets 6,059 6,472 Total assets $ 538,947 $ 252,060 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 6,453 $ 4,389 Accrued expenses and other current liabilities 16,040 28,666 Deferred revenue 263 255 Operating lease liabilities 1,542 1,586 Total current liabilities 24,298 34,896 Other liabilities: Operating lease liabilities, net of current portion 6,407 6,878 Derivative liabilities 19,624 29,987 Deferred revenue, net of current portion 14,068 14,135 Notes payable, net 66,456 65,787 Other non-current liabilities 111 108 Convertible Notes, net — 9,138 Total liabilities 130,964 160,929 Commitments and contingencies (Note 14) Stockholders' equity: Preferred stock, $ 0.0001 par value; 5,000,000 shares authorized and no shares issued or outstanding at March 31, 2024 and December 31, 2023, respectively — — Common stock, $ 0.0001 par value; 200,000,000 shares authorized and 154,704,086 and 114,963,193 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 15 12 Additional paid-in capital 1,170,394 788,697 Accumulated deficit ( 762,426 ) ( 697,578 ) Total stockholders' equity 407,983 91,131 Total liabilities and stockholders' equity $ 538,947 $ 252,060 The accompanying notes are an integral part of these unaudited condensed consolidated financial

View Full Filing

View this 10-Q filing on SEC EDGAR