Ocular Therapeutix, Inc. (NASDAQ:OCUL) Q4 2022 Earnings Call Transcript

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Donald Notman: Sure. Well, clearly, our hope’s to exceed that guidance. And we believe that we have programs and people in place that give us great expectation that we can do just that. Right now, at this point, our customers are still managing staff issues to return to full capacity. So we think right now, $55 million to $60 million is prudent guidance. Our hope is that we’ll come back to the next earnings call with a run rate that makes us reconsider that.

Operator: And our next question comes from the line of Caroline Palomeque with Berenberg.

Caroline Palomeque: Just a couple for me. So the first one would be on DEXTENZA revenue. Just wondering if you plan to break those out between the 2 revenue streams from ocular pain and inflammation and then the allergic conjunctivitis. And then the second question I have is just that if you do decide to go with the alternative financing path, how much financing do you think you would need to progress the program for TKI in both wet AMD and DR?

Antony Mattessich: Well, as we mentioned, it would be premature to talk about — so to the second part of the question first. It would be premature to speak about the actual amount that we would need until we actually have an approved protocol. You don’t really know how to price up particularly the wet AMD. I think it’s pretty clear, diabetic retinopathy, with that, that is likely to cost because I don’t think there’s too many variations on what the pivotal program might look like, not the case with wet AMD. I’m sorry, the first part of your question related to DEXTENZA, what was that again?

Caroline Palomeque: Yes. Just wondering if you plan on breaking out revenues between the different therapeutic areas within DEXTENZA.

Antony Mattessich: No, we won’t plan to do that. What we’ve done essentially to consolidate around our higher or more reliable ROI was really to double-down into the surgical setting, to ensure that we have all hands on deck and really maximize the investment that we have with our field force. We will plan on launching into the office space with the really conjunctivitis indication but not in the very near future. So we won’t be breaking that out because it really wouldn’t be instructive.

Operator: Our next question comes from the line of Joe Catanzaro with Piper Sandler.

Joe Catanzaro: Maybe just following up on some of the earlier questions. I was just wondering how much is the potential strategic partnership for TKI contingent on defining and coming to an agreement with the FDA on what that clinical trial requirements would be for the pivotal wet AMD study? And then relatedly, I appreciate that you’re guiding to a potential study initiation in the third quarter of this year. But when do you think you would be in a position to be able to communicate what that study would look like?

Antony Mattessich: We are very close, we believe, to coming to an understanding of what that pivotal program might look like. So we think that they’ll dovetail nicely, the discussions that we’re having with the potential strategics and what the pivotal look like. But you’re absolutely right that it would really be hard to go into a true alliance unless people understood it what that program would look like but luckily, we’re pretty close.

Operator: And this concludes today’s conference call. Thank you for your participation. You may now disconnect. Everyone, have a wonderful day.

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