BEDFORD, Mass.—Ocular Therapeutix, Inc. (NASDAQ: OCUL), an integrated biopharmaceutical company in the retina space, has reported financial results for the second quarter ended June 30, 2026, and provided recent business highlights. Total net revenue was $13.5 million for the second quarter of 2026, flat as compared with the same period in 2025. The company also reported a net loss of $78.8 million for the quarter, compared with a net loss of $67.8 million for the comparable quarter of 2025.
“We continue to execute with discipline, precision, and urgency to redefine the retina experience and make Axpaxli available to patients as early as possible,” said Pravin U. Dugel, MD, executive chairman, president and CEO of Ocular Therapeutix. “Our June Investor Day marked a pivotal milestone with the announcement of a clear, FDA-aligned path to submit the Axpaxli NDA for wet AMD in the fourth quarter of 2026.”
Axpaxli is an investigational, bioresorbable, intravitreal hydrogel incorporating axitinib, a small molecule, multi-target, tyrosine kinase inhibitor with anti-angiogenic properties, which is currently being evaluated for the treatment of wet AMD and diabetic retinal disease.
Total cash and cash equivalents were $598.6 million as of June 30, 2026, an announcement from the company said. Based on current plans and related estimates of anticipated cash inflows from Dextenza, the company said it believes that its current cash balance is sufficient to support its planned operating expenses, debt service obligations, and capital expenditure requirements into 2028. Dextensa is a corticosteroid medication used for the treatment of eye pain and inflammation after eye surgery.
This cash projection factors in the completion of the SOL-1 trial and the continued execution of the SOL-R, the SOL-X and the HELIOS-3 trials. The projection also includes investment in pre-commercial activities and preparations for the potential FDA approval and initial launch of Axpaxli but does not currently include the full expenses the company anticipates it needs to support the near-term commercialization of Axpaxli, if approved, the announcement said.
Research and development expenses for the second quarter of 2026 were $54.1 million versus $51.1 million for the comparable quarter in 2025, reflecting an increase in overall clinical expenses associated with the ongoing SOL-1, SOL-R, SOL-X and HELIOS-3 clinical trials, with additional personnel and professional services to support these clinical trials and preparations to submit the planned NDA for Axpaxli in wet AMD.
Selling and marketing expenses were $17.3 million for the second quarter of 2026, as compared with $13.7 million for the comparable quarter of 2025, reflecting an increase in personnel-related costs, including stock-based compensation expense, related to the expansion of the company’s commercial team and pre-commercial investments to support a potential Axpaxli launch.
General and administrative expenses were $22.2 million for the second quarter of 2026, as compared with $14.3 million for the comparable quarter of 2025, reflecting an increase in personnel-related costs, including stock-based compensation expense, professional fees and facility-related costs.
