Ocular Therapeutix 10-Q: Assets vs. Liabilities

TL;DR

OCUL 10-Q: $155.6M assets vs $115.0M liabilities as of 6/30/24. Financial health check.

AI Summary

Ocular Therapeutix, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $155,624,363 and total liabilities of $114,963,193. The filing also references derivative liabilities and general administrative expenses, with a fiscal year end of December 31.

Why It Matters

This filing provides a snapshot of Ocular Therapeutix's financial health, detailing its asset and liability positions as of mid-2024, which is crucial for investors to assess financial stability.

Risk Assessment

Risk Level: medium — The filing shows a significant portion of liabilities relative to assets, which could indicate financial strain.

Key Numbers

• $155.6M — Total Assets (Financial position as of June 30, 2024.)
• $115.0M — Total Liabilities (Financial position as of June 30, 2024.)

Key Players & Entities

• OCULAR THERAPEUTIX, INC (company) — Filer
• 20240630 (date) — Reporting period end date
• 155624363 (dollar_amount) — Total assets
• 114963193 (dollar_amount) — Total liabilities
• 2834 (other) — Standard Industrial Classification Code for Pharmaceutical Preparations

FAQ

Key Financial Figures

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

Filing Documents

• ocul-20240630x10q.htm (10-Q) — 1639KB
• ocul-20240630xex3d1.htm (EX-3.1) — 67KB
• ocul-20240630xex10d3.htm (EX-10.3) — 60KB
• ocul-20240630xex10d4.htm (EX-10.4) — 61KB
• ocul-20240630xex10d5.htm (EX-10.5) — 240KB
• ocul-20240630xex10d6.htm (EX-10.6) — 13KB
• ocul-20240630xex31d1.htm (EX-31.1) — 12KB
• ocul-20240630xex31d2.htm (EX-31.2) — 8KB
• ocul-20240630xex32d1.htm (EX-32.1) — 5KB
• ocul-20240630xex32d2.htm (EX-32.2) — 5KB
• ocul-20240630xex10d5001.jpg (GRAPHIC) — 7KB
• ocul-20240630xex10d5002.jpg (GRAPHIC) — 8KB
• 0001558370-24-011202.txt ( ) — 7008KB
• ocul-20240630.xsd (EX-101.SCH) — 43KB
• ocul-20240630_cal.xml (EX-101.CAL) — 46KB
• ocul-20240630_def.xml (EX-101.DEF) — 202KB
• ocul-20240630_lab.xml (EX-101.LAB) — 341KB
• ocul-20240630_pre.xml (EX-101.PRE) — 305KB
• ocul-20240630x10q_htm.xml (XML) — 999KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30, 2024 and 2023 6 Notes to the 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 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 37

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 5. Other Information 39 Item 6. Exhibits 39

SIGNATURES

SIGNATURES 42 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 our registrational 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 second Phase 3 clinical trial of AXPAXLI for the treatment of wet AMD, which we refer to as the SOL-R 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; and 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; any additional clinical trials we might determine in the future to conduct for our product candidates; determining our next steps fo

—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) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 459,690 $ 195,807 Accounts receivable, net 30,232 26,179 Inventory 2,547 2,305 Restricted cash — 150 Prepaid expenses and other current assets 6,116 7,794 Total current assets 498,585 232,235 Property and equipment, net 10,887 11,739 Restricted cash 1,614 1,614 Operating lease assets 6,005 6,472 Total assets $ 517,091 $ 252,060 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 3,689 $ 4,389 Accrued expenses and other current liabilities 24,358 28,666 Deferred revenue 269 255 Operating lease liabilities 1,656 1,586 Total current liabilities 29,972 34,896 Other liabilities: Operating lease liabilities, net of current portion 6,100 6,878 Derivative liabilities 22,078 29,987 Deferred revenue, net of current portion 14,000 14,135 Notes payable, net 67,132 65,787 Other non-current liabilities 114 108 Convertible Notes, net — 9,138 Total liabilities 139,396 160,929 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 June 30, 2024 and December 31, 2023, respectively — — Common stock, $ 0.0001 par value; 400,000,000 and 200,000,000 shares authorized and 155,624,363 and 114,963,193 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 16 12 Additional paid-in capital 1,183,882 788,697 Accumulated deficit ( 806,203 ) ( 697,578 ) Total stockholders' equity 377,695 91,131 Total liabilities and stockholders' equity $ 517,091 $ 252,060 The accompanying notes are an integral part of these unaudited condensed consolidated

View Full Filing

View this 10-Q filing on SEC EDGAR