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Here is why Ocular Therapeutix Inc. (OCUL) stock flipped in the after-hours on Thursday?

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Ocular Therapeutix Inc. (OCUL) shares climbed 7.51% in after-hours on Thursday, July 22, 2021, and closed the day at $13.03 per share. in the morning session on Thursday, OCUL’s stock lost 4.42% to close Thursday’s session at $12.12 per share. OCUL shares have risen 38.51% over the last 12 months, and they have moved down 4.64% in the past week. Over the past three months, the stock has lost 22.85%, while over the past six months, it has shed 38.32%. Ocular has a current market of $962.57 million and its outstanding shares stood at 76.07 million.

OCUL stock Preliminary financial announcements

On July 22, 2021, OCUL stock announced preliminary net product revenue for the quarter ended June 30, 2021, and in-market unit sales for June 2021.

  • The company announced total net product revenue of approximately $11.7 million for the second quarter of 2021 which is a 600%increase versus the second quarter of 2020.
  • Ocular Therapeutix is projecting DEXTENZA second quarter, in-market unit sales of 24,990 billable inserts, which is an approximately 50% sequential increase over the first quarter of 2021.

Strategic agreement with Mosaic Biosciences 

On June 29, 2021, Ocular Therapeutix, Inc (OCUL) stock entered into a discovery collaboration with Mosaic Biosciences to identify new targets and therapeutic agents aimed at the treatment of Dry Age-related Macular Degeneration (dAMD).

The collaboration between Ocular Therapeutix and Mosaic will focus on the discovery and development of novel complement inhibitors with an extended duration of activity. The goal of complement inhibition is to block the pathway that can initiate and drive these diseases.

Participation in the recent investor and health conferences

  • Ocular Therapeutix Inc participated at the Raymond James Healthcare Conference 2021, which was held on June 23, 2021.
  • The company’s management also participated in a fireside chat at The JMP Securities Life Sciences Conference which took place on June 16, 2021.
  • OCUL stock was presented by its top management at Jefferies Virtual Healthcare Conference which was held on Tuesday, June 1, 2021.

OCUL stock Q1 2021 financial results announcement

On May 5, 2021, Ocular Therapeutix, Inc. (OCUL) stock reported financial results for the first quarter of 2021.

Q1 2021 financial highlights

  • Ocular Therapeutix reported gross product revenue of $7.3 million in Q1 2021 compared to $2.69 million in Q1 2020.
  • Research and development expenses were $10.9 million in Q1 2021 compared to $6.1 million in Q1 2020.
  • Selling and marketing expenses were $8.1 million in Q1 2021 as compared to $7.1 million in Q1 2020.
  • The Company reported a net income of $3.1 million, or a profit of $0.04 per share on a basic basis and a net loss of $20.8million, or a loss of $0.24 per share on a diluted basis in the first quarter of 2021 compared to a net loss of $21.0 million, or a loss of $0.41per share on a basic and diluted basis Q1 2020.
  • OCUL stock had $209.4 million in cash and cash equivalents on March 31, 2021, compared to $228.1 million on December 31, 2020.

Conclusion

The Ocular Therapeutix stock jumped in the after-hours after the company announced preliminary financial figures for Q2 2021 which are quite good. The OCUL stock can continue to surge on the last day of the week as well.

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