Ocular Therapeutix, Inc (OCUL) saw its loss widen to $12.82 million, or $0.52 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $10.64 million, or $0.43 a share. Revenue during the quarter grew 17.20 percent to $0.51 million from $0.44 million in the previous year period. Gross margin for the quarter contracted 375 basis points over the previous year period to 75.15 percent.
Operating loss for the quarter was $12.47 million, compared with an operating loss of $10.28 million in the previous year period.
"We continue to execute our diversification strategy as we seek to improve the standard of care across many ophthalmic indications using our proprietary hydrogel platform technology," said Amar Sawhney, Ph.D., president, chief executive officer and Chairman. "With the July 19th PDUFA date for DEXTENZA fast approaching, pre-commercialization activities are well underway as DEXTENZA has the potential to become the first approved non-invasive extended release drug product that can provide a full post-operative course of therapy following ocular surgery with a single administration."
Working capital drops significantly
Ocular Therapeutix, Inc has witnessed a decline in the working capital over the last year. It stood at $61.60 million as at Dec. 31, 2016, down 39.38 percent or $40.01 million from $101.60 million on Dec. 31, 2015. Current ratio was at 8.42 as on Dec. 31, 2016, down from 19.89 on Dec. 31, 2015.
Debt moves up marginally
Ocular Therapeutix, Inc has witnessed an increase in total debt over the last one year. It stood at $15.64 million as on Dec. 31, 2016, up 2.43 percent or $0.37 million from $15.27 million on Dec. 31, 2015. Short-term debt stood at $1.55 million as on Dec. 31, 2016. Total debt was 20.87 percent of total assets as on Dec. 31, 2016, compared with 13.85 percent on Dec. 31, 2015. Debt to equity ratio was at 0.30 as on Dec. 31, 2016, up from 0.17 as on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
