Ocular Therapeutix(US:OCUL)2026-02-05 12:13Revenue Performance - Total net revenue for Q4 2025 was $13.3 million, a decrease of 22.4% compared to $17.1 million in Q4 2024[6] - Total net revenue for the full year 2025 was $52.0 million, down 18.5% from $63.7 million in 2024[6] - Product revenue for Q4 2025 was $13,250 million, a decrease of 22.5% from $17,020 million in Q4 2024[37] - Total revenue for the twelve months ended December 31, 2025, was $51,951 million, down from $63,723 million in 2024, representing a decline of 18.5%[37] - Collaboration revenue for Q4 2025 was negligible at $0 million, down from $63 million in Q4 2024[37] Expenses - Research and development expenses for Q4 2025 were $50.8 million, up from $41.0 million in Q4 2024, reflecting increased clinical trial costs[7] - Overall R&D expenses for 2025 increased to $197.1 million from $127.6 million in 2024[7] - Selling and marketing expenses for Q4 2025 were $13.0 million, compared to $10.8 million in Q4 2024, primarily due to increased personnel costs[8] - General and administrative expenses for Q4 2025 were $17.7 million, up from $14.6 million in Q4 2024[9] - Total costs and operating expenses for Q4 2025 were $83,010 million, an increase of 22.6% compared to $67,659 million in Q4 2024[37] Net Loss - The net loss for Q4 2025 was $(64.7) million, or $(0.29) per share, compared to a net loss of $(48.4) million in Q4 2024[10] - The overall net loss for 2025 was $(265.9) million, or $(1.42) per share, compared to $(193.5) million in 2024[11] - The net loss for Q4 2025 was $64,654 million, compared to a net loss of $48,388 million in Q4 2024, reflecting a 33.7% increase in losses[37] - Net loss per share for Q4 2025 remained at $(0.29), consistent with Q4 2024[37] Cash and Assets - Cash balance as of December 31, 2025, was $737.1 million, expected to support operations into 2028[5] - Ocular Therapeutix, Inc. has approximately $737.1 million in cash and cash equivalents as of December 31, 2025, compared to $392.1 million in 2024, representing an increase of 88%[35] - Total current assets increased to $782.1 million in 2025 from $441.0 million in 2024, reflecting a growth of 77%[35] - The company's total assets reached $808.1 million in 2025, up from $457.9 million in 2024, indicating an increase of 76%[35] - Total stockholders' equity rose to $654.3 million in 2025 from $315.3 million in 2024, marking a growth of 107%[35] Clinical Trials and Product Development - The SOL-R Phase 3 trial completed randomization of 631 subjects, exceeding the target of 555 subjects[4] - The primary endpoint of the HELIOS-3 trial is a 2-step change in the ordinal diabetic retinopathy severity score (DRSS) at Week 52 from baseline[24] - Diabetic retinopathy (DR) affects over 103 million people globally, with fewer than 1% of the 6.4 million NPDR patients in the U.S. currently receiving treatment[27] - Ocular's investigational product AXPAXLI is currently in Phase 3 clinical trials for wet AMD and diabetic retinal disease, including NPDR[29] - The company is evaluating next steps for its investigational product OTX-TIC, which has completed a Phase 2 clinical trial for open-angle glaucoma[30] - The company anticipates submitting a new drug application for AXPAXLI based on positive data from the SOL-1 Phase 3 clinical trial for wet AMD[32] Accumulated Deficit - The company reported an accumulated deficit of $1.16 billion as of December 31, 2025, compared to $891.1 million in 2024[35]