Ocular Therapeutix Inc (NASDAQ:OCUL) released its preliminary net product revenue for Q3 ended September 30, revealing that it expects the net product revenue between $5.8 to 5.9 million.
The preliminary net product revenue expectation between $5.8 to 5.9 million means that the company’s net product revenue will have increased by more than 250% compared to the figure reported in the previous quarter. The preliminary data highlights that the company has been enjoying strong growth from its innovative therapies designed to treat various eye conditions. The company provided some of the figures indicating that its offerings have been doing quite well.
DEXTENZA’s net product revenue during the quarter ended September 30, 2020, is expected to be around $5.3 million, while the estimated net product revenue for ReSure during the same quarter is around $0.5 million. This means that both products are expected to generate roughly 280% and 150% growth in net product revenue during the quarter.
DEXTENZA has been delivering strong numbers for the past two quarters
Ocular Therapeutix plans to release the official data for the third quarter 2020 period during the latest investor conference call on November 5. The company is particularly excited about DEXTENZA’s impressive performance. Despite the economic downturn caused by the COVID-19 pandemic, DEXTENZA’s sales continued to soar. This was largely due to the high demand from Hospital Out Patient Departments (HOPDs) and Ambulatory Surgery Centers (ASCs).
Ocular also reported that it continued to enjoy strong numbers as far as billable inserts for DEXTENZA are concerned during Q3 2020. The company noted that the sales have been building on the momentum gained in Q2 2020 and it continues to enjoy consistent growth. It was also because the ASCs and HOPDs have been working towards building their DEXTENZA volumes to match pre-COVID-19 levels.
“We are very pleased with the growing interest in DEXTENZA and we are encouraged by the growth in our reported sales,” stated Ocular CEO, Antony Mattessich.
Ocular’s CEO revealed that the company’s customers have so far purchased 10,000 billable units in Q3 2020. Half of them were purchased in September, which means that sales are still gaining momentum. The company’s executives are optimistic that Ocular will continue to enjoy strong sales moving forward.