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Ocular Therapeutix
Ocular Therapeutix (OCUL) investor relations material
Ocular Therapeutix Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary5 Feb, 2026
Executive summary
Reported Q4 and full year 2025 financial results, highlighting ongoing Phase 3 trials for AXPAXLI in wet AMD and diabetic retinopathy.
SOL-1 Phase 3 trial results remain masked, with topline data expected at the 49th Macula Society Annual Meeting in February 2026.
NDA submission for AXPAXLI in wet AMD planned, pending positive SOL-1 results and FDA interactions.
Cash balance of $737.1 million as of December 31, 2025, with expected runway into 2028.
Financial highlights
Q4 2025 net revenue was $13.3 million, down 22.4% year-over-year; full year 2025 net revenue was $52.0 million, down 18.5%.
Q4 2025 net loss was $(64.7) million, or $(0.29) per share; full year net loss was $(265.9) million, or $(1.42) per share.
Research and development expenses rose to $50.8 million in Q4 and $197.1 million for the year, reflecting increased clinical trial activity.
Selling and marketing expenses increased to $13.0 million in Q4 and $53.9 million for the year, mainly due to personnel and pre-commercial activities for AXPAXLI.
Gross proceeds of $475 million raised from a September 2025 equity offering.
Outlook and guidance
Cash runway projected into 2028, supporting planned clinical and pre-commercial activities.
NDA submission for AXPAXLI in wet AMD targeted, leveraging the 505(b)(2) pathway to potentially shorten review.
SOL-1 topline data expected in February 2026; SOL-R topline data anticipated in Q1 2027.
Will SOL-R data be required for AXPAXLI NDA?
Detail DEXTENZA reimbursement challenges
How will AXPAXLI commercialization be funded
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Next Ocular Therapeutix earnings date
Q1 20264 May, 2026
Ocular Therapeutix
Next Ocular Therapeutix earnings date
Q1 20264 May, 2026
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Frequently asked questions
Ocular Therapeutix Inc is a biopharmaceutical company focused on the development and commercialization of therapies for diseases and conditions of the eye. The company specializes in proprietary hydrogel-based drug delivery platforms designed for ophthalmology treatments. Ocular Therapeutix serves the healthcare sector by addressing needs in areas such as post-surgical inflammation, dry eye disease, and retinal diseases. The company is headquartered in Bedford, Massachusetts, and its shares are listed on the NASDAQ.
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