OCUL - Earnings call transcript Q1 2020 | Ocular Therapeutix, Inc.

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Operator

Ladies and gentlemen, thank you for standing by and welcome to the First Quarter 2020 Ocular Therapeutix Earnings Conference Call. At this time, all participant lines are in listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions]

I'd now like to hand the conference over to your speaker today, Mr. Officer. Financial Chief Notman, Donald Please go sir. ahead,

Donald Notman

Thank joining us operator. and update Good XXXX morning, for you business call. thank and conference on results everyone, financial you, our quarter first

a investors.ocutx.com. on morning, XXXX. release press at the This our The product and results press Company’s programs the can of of development opening, website ended for the we the Company’s release an quarter Investors update before portion providing on the financial accessed details be issued March XX,

Leading will who President provide on developments an give corporate Medical today will launch. the Chief a and our Dr. and on today an pipeline. update call commercial and be our Chief our Officer, call Also Michael Mattessich, who Antony be the our clinical speaking of Executive will update will Officer, DEXTENZA development on the summary Goldstein,

will questions. of quarter, to Michael’s an and summary before Following the financial the Antony call turning provide I back over highlights a for remarks, overview for the

call, A activities. As research recent regarding may results file risks Form plans from our a SEC. as uncertainties reminder, on risks subject as be well and our these forecasted. product to we will regulatory in to actual and our the those most that making statements development description are statements These of with cause forward-looking be can differ today’s found on XX-K

the turn to Antony. over now call will I

Antony Mattessich

earnings report. Thank you, quarterly Donald. And Therapeutix distanced welcome to socially Ocular first

of those Massachusetts in to The organizational of you fight has efforts. I providers, all the area. wanted supply PPE to of need contributed get started, our how donations in to pandemic. I COVID-XX with Before note Company food through against employees response have I and proud Bedford, care am the given many COVID-XX local to your our for to Thank the time most to health

their prospects the value developments Despite environments and take have to regulatory to changes as due business to how Ocular recent as the the drivers stock It major of in the in the caused continues well for past, by portfolio. is and upheaval favorable outlook external the coronavirus, brighten. good in improved important

great us several is that with allows in many Ocular the being programs to technology the of a the company advance spend, ophthalmology. limited benefits most valuable our across One small of segments Therapeutix of

These degeneration segments age-related are and dry pain. and macular inflammation eye wet or or wet glaucoma, AMD, post-surgical disease DED,

Let's value these start drivers, AMD. largest with of wet the

The the driver to patient longer The for treatment at for is durability. single key needing attractiveness without X a wet Current treatment. injection, global is has on X market A every AMD $XX care annually keep the standard works AMD treatment of reinjection billion typically to fluid in greater growing nearing X%. and weeks. of patients selection approximately wet the the a

our the latest strong into to in the patients. toward has time using second designed quarters, a the has single intravitreal last landscape. in commercial changes OTX-TKI, space deliver In and the of to benefited Michael some delivery will cohort reductions a the months led X you eye first of has to injection kinase dose clinic received from results in the for implant clinic, kinase eluting inhibitor In up thickness soon few higher tyrosine delivering retinal clinical therapy our with with favorable demonstrated meaningful our that in a the share technology tyrosine clinically the signal data.

has believe potential of the Given durability extend performance in the AMD. for wet the that clinic, OTX-TKI to the we treatment

parameter. superiority brolucizumab market treatments of of On the leads can on are vasculitis that competitive landscape, a product AMD durable with more as retinal of you wet for the the open aware, demonstrate many this emergence for

with bimatoprost fast benefits. intracameral intracameral a and DURYSTA greatest eluting market can the to implant. deliveries has for containing approval FDA believe and that product be Allergan’s ensures We injection way most [ph] DURYSTA, we travoprost a Recent safety some glaucoma, the follower large durability unmet on another medical interesting our paved of OTX-TIC, can for patient intercameral potentially notably offer compliance. It's potential to of possibly approval Moving the of Allergan’s need. prostaglandin,

and you safety profile, potential become has a months we and excited in With have care data the targeted IOP from an are with this own of favorable elevated beyond a early its treatment for bioerodes signal have point efficacy insert seen product in to time that what of to lowering single very standard and trial profile some by of six on current the results showing this believe the subjects of observed IOP. we OTX-TIC

conjunctivitis surface programs and treatment environment. internal in ocular we in For developments our disease, eye seen of and diseases regulatory allergic both such have the dry positive as

side, sNDA by our are itching and surface for product ocular go of first the application indication, we but in of XC for ocular environment. big with Phase office the us Michael indication DEXTENZA believe an excited that file trial allergic allergic the associated enable the On in into details trial, picture is we DEXTENZA’s disease first will results that ophthalmology will it conjunctivitis the conjunctivitis. be to the

dry a the in excited is by our and includes product looks for news a eye that We a will greater Clearly, surface steroid-free positively in the OTX-CSI for these approved to very ocular indications. be pleased trial disease, being this development alternative Therapeutics results potential option the we DED, in steroid that resulting endpoint, met of both of eye see market our a clarity DEXTENZA disease. the hands-free treatment DEXTENZA preservative-free believe likely of dry changed the of Similarly, indicated in become our the are steroid Ocular provides dry will non-abusable, a and and new segment confidence primary good treatment for pathway in In canaliculus in patient. DED. so largest us to giving leverage of Ocular that services the a probability and efforts the eye the disease, high in treatment Kala STRIDE to its X We environment DEXTENZA the that of were condition.

even external Finally, and in product could with post-surgical post-COVID environment DEXTENZA. we're treatment the the DEXTENZA, we a internally of pain be more like and strides conducive making to believe inflammation paradoxically,

On million prior the we and increase cataract in the to in quarter. sales side, over because first represents half begin recorded revenue second of This March. XX% near-total $X.X net even an of more for shutdown in is performance quarter, the sales DEXTENZA of notable surgeries the

schedule units sense volume to To sales. reaching two We weeks $XX million of give the you rate cataract as pandemic. coronavirus hospitals shutdown in to through the to cancelled and surgeries in near run the around reopen. nearly continued in weeks April. March, surgeries only sold ASCs due the annual ASCs XXX and X,XXX of see inserts hospitals two We nearly The a total billable beginning cataract following of We're ASCs first change. in a sold

come particularly benefits positioned a their the that of even environment expect We've era in the momentum insert as been anterior intracanalicular hear seeing, they segment an in post-COVID to conversations the shutdown shutdown pleased Clearly, replacing of better minimized, frustrating, risk the single hands-free to be were compelling. infection more While appreciation temporary drops XX grown. of option than DEXTENZA surgeries before. restart has only surgeons with where steroid because of administered we the we out must physician their bioresorbable the is and had many with have for

of portfolio, by is and it environment. being also Therapeutix the changes Ocular summary, making tremendous strides in in its but regulatory is development the In helped competitive

progressed DED, AMD, prospects, As we glaucoma, in than more the substantially today. outlook at prior, of inflammation, quarters wet and have a attractive Ocular’s look spectrum few market see post-surgical we and of are before. even and Across a pain different products the very our even prevention

will call the turn to With that Mike I Goldstein. now over

Dr. Michael Goldstein

Anthony. Thanks,

treat OTX-TKI a which update bioresorbable, has is and occlusion. hydrogel macular as begin vein program, degeneration and back-of-the-eye injection. patients with age-related other properties diseases, wet It delivered OTX-TKI. is me diabetic by Let anti-angiogenic macular implant axitinib, is our developed retinal an being intravitreal edema retinal such and with of containing to

dose assess to OTX-TKI, in that X to as anatomical as tolerability multicenter preliminary a clinical safety designed and and of subjects Phase label by in assess measuring continue changes. activities to well the functional open trial biological Australia is We

we no member trial mentioned, trial Committee, presented included the cohorts of These Buckle X ocular a update be interim profile As interim favorable the X events. a Phase with two recently at from enrolled data fully Society on data the safety Phase Avery, In cohorts Monitoring overseeing March. ongoing generally was and encouraging an with Anthony the both Meeting. in reported adverse Safety the Vit serious Data on to Robert in April, Annual data first that OTX-TKI OTX-TKI well-tolerated observed demonstrated

compared decrease decreases response response fluid to to a with the measured look in this small two, in wet to higher in higher retinal set, lower dose cohort in showed the cohort activity, OTX-TKI longest a macular months. interim with cohort. subjects biological with the in X.X be age-related treated be fluid dose subjects out there clinical as dose degeneration intraretinal greater now on subretinal dose In Regarding the the treated seems and/or by data

XX who patients for need long anti-VEGF shown in rescue months not to frequent to with required some therapy potentially Additionally, as X in OTX-TKI. being had prior enrollment as the cohort were dosing after treated study

to study of of continue subretinal product drug the a interim injection with enrolled. still fluid. the recently we TKI higher can still intravitreal pleased that the are emerging, amended is an protocol for of response, a dose durability that cohort to have profile even to addressed need questions are the and/or While intraretinal as be data number for allow shows we the to reduce the be we There and current next

Moving extended IOP delivered a to is injection via deliver duration our travoprost designed glaucoma hydrogel intracameral reduction. program, of containing OTX-TIC implant bioresorbable to

hypertension United and open safety, of escalation X We in biological clinical activity, to Phase or trial tolerability open-label OTX-TIC. angle States dose with in durability glaucoma subjects to enroll the ocular continue a prospective, evaluate multicenter primary the

Topical we at the decreased eye in in X non-study place in the in cohorts, fully-enrolled a San in patients six-month from current XXX Glaucoma to standard decreased subjects remained In cohort four comparable subjects The that X many the and an data also duration interim two for took consistently single with cohort care. X X IOP showed was throughout of to receiving that Data Francisco. period. implant. months first five of subjects in February, placed the that extended showed Conference travoprost the IOP the presented data OTX-TIC

we seen favorable XX approximately biodegraded that have subject most a subjects X and safety also months well-tolerated over The has implant. and the We X months profile. in well-controlled observe to IOP is single with for one the to hydrogel product continue in for

slit a cells. endothelial the From no endothelial measured changes we meaningful by corneal lamp imaging as pachymetry clinically cells of safety direct seen in perspective, have and

degrading rapidly hydrogel X now of and implant enrolling dose have in smaller and travoprost completed lower are same enrollment currently as implant the X, a more We with X, dose. X cohort cohort cohort cohort and

Enrollment this open slowed has promising complete, ophthalmic is recently been X believe back slightly formulations this the Once for will pick trials. patients. COVID-XX up offices we trial but most clinical Phase intend non-emergent advance to into we as by up

conjunctivitis. modified double-masked Phase using models. Conjunctival the allergic United work our conjunctivitis recently with arm, of X surface in sites announced top-line ocular Ora’s includes eye, was DEXTENZA area results parallel conducted and dry associated subjects the for clinical clinical which itching we've enrolled for Phase placebo-controlled diseases, Challenge in allergic trial positive randomized of trial X In the across Allergen XX X ocular in and treatment The our States,

day X on challenge day minutes, primary subjects treated minutes The measure itching allergens. with at X this and X DEXTENZA minutes. efficacy perennial itching vehicle-treated difference lower point time ocular included minutes, all significant and day seven, minutes in seasonal other secondary minutes, visits, afternoon endpoint the assessment X.XX post afternoon statistically day X eight scores for demonstrated in subjects at except XX of in that subjects DEXTENZA-treated than was and minutes vehicle-treated An trial subjects to the three a X value scores, had morning, p XX also XX subjects of than post-CAC, exposure, eight X.XXXX, XX for at ocular X value XX than at itching less and p less and minutes all all day ocular pre-specified the showed in morning day points, itching and X and time X day points. at the minutes, compared X following

intraocular or and with subjects favorable required to pressure. rescue safety observed, observed no elevated medication be was DEXTENZA ocular serious subjects and well-tolerated events a profile adverse non-ocular. No no experienced have

Overall, product for market targeting standard the could change profile,, conjunctivitis. current the compelling for the treatment that data highlights potentially the long-acting of the allergic hands-free large one-time, therapy care of a

indication in-office sNDA, this comments, his our expands and and potential represent in would DEXTENZA. stated if Anthony as approved, for significantly Importantly, first versatility the

review in this plan target sNDA In findings our the end terms Phase our by of next regulatory data the year. and study, steps, with the full discuss submission an FDA complete X pathway and this set of of we to of

opportunity largest of treatment ocular surface potential eye diseases is disease. The the in dry

insert We DEXTENZA cyclosporine programs an in with dry intracanalicular eye eye eye the patients months patients which approximately And disease. has with for episodic have disease. potential two three releases OTX-CSI includes with punctum dry for dry and benefit for disease,

initiated For durability OTX-CSI, a and clinical States in evaluate the safety, we’ve OTX-CSI. recently X the single-center Phase open-label, United tolerability efficacy trial of to

interest more in to to enrollment. continues requests disease be active the currently clinical to therapies the in including IIT benefits hands-free XX eye investigator with submitted near this trial studying helping receive over treatment rapid areas one cyclosporine completed option currently in DEXTENZA the of potential in for on the need and compared very eye We future. in has the dry There of seeking many that expect including the greater excited subjects many are initiated dose market. significant to about have patients unmet first DEXTENZA that studies X benefits patients. We with disease tolerability the dry of potentially We're the evaluate

now turn like over fourth call results. quarter (sic) would yearend our [first] Donald, to the who’ll I back review and financial to

Donald Notman

Thanks Michael.

ReSure respectively. XX, to Gross million in net first revenue $X.X of Company ended revenue million, which product product $X.X and discounts, total quarter XXXX. and returns, $X.X Net DEXTENZA the the revenue million and net Sealant three of months rebates product were refers March for was as

versus and November decrease unallocated Research expenses a for in organizational XXXX, $X.X million due and first in restructuring primarily in XXXX. comparable costs were the for development the period quarter announced $XX.X to reflect million personnel and

in million launch of This for and managers by as relates million for DEXTENZA increase the the driven XXXX. entirely by commercial primarily key of to $X.X were force medical addition marketing quarter managers, to quarter support reimbursed account $X.X and liaisons. almost expenses of field the Selling first the compared same the including field sales

administrative stemmed the general $X.X expenses $X.X XXXX. professional The in first from expenses the million quarter versus decreased XXXX quarter and of comparable quarter for costs. Finally, million of were decrease primarily the in for first

per or or basis. This a respect for to per basic in a included XXXX. depreciation, on $X.XX loss same We $XX.X for financial quarter. a net loss quarter of of for share XXXX. and $X.X and With first on the loss a results same of compensation a in first and quarter a reported loss million basic to million to the net $X.XX the charges share stock-based on a net million per period of diluted $X.XX loss $XX.X million $X.X compares for basis compared for the diluted The in share non-cash

notes. with to the a liability related addition the our of In the of loss the fair convertible value included derivative to net associated $X.X million quarter, change for non-cash charge in

approximately X, As shares of XXXX, XX.X May the outstanding. Company million had

$XX.X of in offer amounts XXXX. million equivalents common first net aggravate upto proceeds The the of proceeds from may in the $XX.X cash and XX, $XX.X cash balance agreement, its from of sale stock end exclude These the at XXXX quarter under the both the sell million versus Company million of stock from had cash during cash sales in under which cash restricted March the of benefited having million As Company periods. time-to-time. and generated million Company's XXXX, common $X.X $XX

so under additional the proceeds available from million net Approximately Company $X.X the sold to XXXX, to facility. agreement, sales common be XX common $X.X has period the under million. this stock of X, stock remains of For sold March May generating

current sales cash related cash and and and associated Company’s ReSure equivalents, other Sealant the clinical on of reductions pursuant existing quarter expense including well agreement obligations expected related product assumptions duration assumptions variable and Company sales XX, in with expenses, the DEXTENZA DEXTENZA, expenses the of severity from into fund This to net operating estimates plans Based the the cash as inflows of enable of the the to from together debt and anticipated the and to of planned COVID-XX March of and requirements first pandemic, to as XXXX, rebound related third outflows cataract in cash of quarter that will Xth believes to through Company operating the with expenses, aspects revenues May other and cash common quarter stock of is sales research expenditure various those an second capital beginning from surgeries highlighted the including and programs, guidance as service business. subject previously, the commercialization the proceeds XXXX. pace development

This to thoughts. call turn comments on my I quarter to the results. back Antony the financial And summary concludes first would some for like

Antony Mattessich

Thanks, Donald.

of continues treatment set of the in quick in the questions, profile support unmet of So, that of standard for our performance clinic up could the performance for let care set before support of of greatest clinic standard that me The the the AMD. summary. to the for need glaucoma. care new patient area need compliance, do call product wet opening a could in The durability, the in treatment OTX-TKI greatest of OTX-TIC a unmet area a of product profile continues to

indication in new in of route the standard the we conjunctivitis Our the positive believe an ocular a for disease, care. Therapeutix’s way of Xc trial intracanalicular could Phase through allergic treatment paved Ocular administration first treatment where surface set of

replaces of that compliance that infection of by in this hands-free post-surgical that steroid to pain regimen. decreases enhanced to DEXTENZA with fact and complicated dosing prevention patient XX begin cataract a need is benefits from for DEXTENZA's as the anticipate drops, will the truly risk related inflammation issues alternative Finally, and the be normal, we to return the surgeries features and

developments in changes Due we well the pipeline been our competitive for never Therapeutix. and Ocular regulatory, post-COVID future the environment, to has as in believe as brighter

the I'll call With to questions. over that turn

Operator

first the Instructions] Piper Sandler. comes from Catanzaro question Our with [Operator line Joe

line now is Your open.

Joe Catanzaro

guys. Hey, two for Thanks questions. taking Maybe DEXTENZA. on first, my

getting onto procedures P&C Is some or but going up know reopened, initial it's wondering higher ASCs that's being have have impacted. I maybe formularies two been historical we over so? the then, virtually? still of But for the see DEXTENZA been meetings a that lost And of process that lost ASCs happening procedures process volumes their Are just the So, may to still last for months committee how on? at has know do than their early, volumes you make they've impacted.

Antony Mattessich

It's the really say is too actually still working. that staffs your -- to easy the moment administrative hard -- at question answer And questions. to to Well, answer. still the ASCs are both are the first

have So, very able with good we've a to conversations been number people. of

While the we get closed, surgeries in the attention them from we some than in not they're case flow. get ways these more board. full That's across are when now

Some shut places have are truly down. they employees, furloughed so that

ASCs looking share of In don't data to side terms COVID market share other terms have have now pandemic. demonstrate we in of is useful reopened, of the our is small actually at any of cataract so the through that that throughput in number getting that the on what our the

Joe Catanzaro

guess, others you bed get guess, additional space as they are guys thinking We've about three every on And we then, six months I And rest data we year? could expect about should extended one follow-ups. OTX-TKI. How update maybe this another seen months, moving maybe think forward? updates how this I provide in to three the flow?

Antony Mattessich

one? want you do to Mike, have that

Dr. Michael Goldstein

Sure.

provide So, we meaningful to an something when will yes, have say. we update

two update currently enroll We cohorts, up year, in AAO the to targeting plan higher around the to continuing in later cohort. provide first third and to the the an do we're timeframe. So, gearing a probably patients are we follow dose

Operator

& from The next Ku Company. Cowen question comes with Stacy

is Your now open. line

Stacy Ku

So, aware expectations And potentially metrics the as closed, a that I your have any of follow-up. follow-up number have surgeries you're more using kind using scheduled maybe number cataract moving and on postponed? DEXTENZA Maybe or forward. of the or of that's a details of been such clinics DEXTENZA been

Antony Mattessich

start we is ASCs. of that terms guidance flow surgeries. significant of What mean, the forward, we course, see not seeing through until the we're I how Yes. of are there's to the reopening giving the in any going ASCs moves of a scheduling

supposition XX% we would patients volume to seeing question up so they up. numbers say, roughly, that is June I up still open actually and Because get But, think, in be whether to throughput the We by to they in those at point. normal the of exactly that to bump all XX% the to in July back somewhat then May. XX%, cycle, We're how levels. get XX% next to able returning have. being this gain will expect difficult very early the this have is show it's to

that is sales This In is terms not continue metric to the there's progression sales mean, we we're only relatively expensive and that is of of that metric units I one of substantially going, and the and a it metrics, is ASCs that They hold indicative and reporting inventory. hospitals. ASCs billable hospitals. into the report how will really and the to do drug

when from from insert XPL they buy buy short time. a in So, they -- very use they distributors, of order an when that the drug

So, happening that of in indication true the marketplace. gives a what's

said, the out made us as of down, ASCs of believe that over a to with an discussions different to eyes that week. the and number of benefits XX and a formularies the that we product the patients per back be or started shut get will were to XXX area to of per that of hope surgeries, hands time the But to protocols, of have what well because also or because greater And the benefits hope we being on of in we've on we doing early that of be used not that's we able total part And ASCs we the their that cataract course come March, in the about accelerate opportunities XXX volumes week then, been month. in into put get help get very other has, that hands-free to when averaging inserts product keeps number the down. share as ASCs a solution we soon, terms words, the -- that both where have the able beyond that

Stacy Ku

Okay. you. a question just then, follow-up Thank And OTX-TKI. on

observed inflammation, could terms of what what considering you've you focused entrants are comment for maybe safety other with Given implants? on intravitreal in competitive you guys the on

Antony Mattessich

that? you Do to want Mike. handle Hey,

Dr. Michael Goldstein

Sure.

So, yes, sort you’re injections I retina. have think, of we're either target, with of the vitreous -- of lots or had the have -- had on of inflammation, issues implants intravitreal

thing So, to-date, needed that's obviously key haven't we've looking we for. we're in And, have treated a so treatment had far. any the patients of patients steroid who any

that So, been so it far safe we patients well-tolerated. to seems from the have XX extremely following, and be

Stacy Ku

Thank you.

Antony Mattessich

Thank you.

Operator

comes with JMP Securities. next Our from question Jonathan Wolleben

open. line Your now is

Jonathan Wolleben

for Hey, the thanks good taking questions. And Congrats morning. the on progress.

Antony Mattessich

Good morning.

Jonathan Wolleben

a for me. Just couple

for of any the setting? on something patients in then, proactively, conjunctivitis, drops discuss be Is And used may an world allergic can when use real you kind you think early how First, DEXTENZA comments not envision season this in commercialization your will working? or you being that something strategy? allergy

Antony Mattessich

that step price edited would conjunctivitis, used you a would we the a see With payers. drops refractory of an generic in and allergic be expect, for given Yes. DEXTENZA allergic population, would and that by in conjunctivitis, between insert differences we steroid marketplace would be the

have get ophthalmologist’s office, there's where And us important it is to So, it's the indication secondly, see this we that is us. all, into first looking failed what a of usage a the we are hugely first to can ocular tremendous gets type areas -- the which surface of is of would the likely typically multiple reimbursed who's fail you And surface area. at of patient the within drops ways. in have opportunity patients drops. ocular on number in in But, who

don't drops from they fail You an work can because either efficacy simply standpoint. on

because take drops or drops the to eye unable tolerate dose or to in ability on that adequately the fail issue them with steroid unable are also some drop. preservatives dexterity with yourself an to have can You you're or

That's support ocular that area environment. other really population. certainly for to that ocular in would would in and ASCs, disease would like population. the that capture this diseases actually we also being in payer office in environment the surface physician a surface be the we significant also expect type DEXTENZA expect a both But, patient being to within And product and the motivating

So, who it to in ASC but opportunity cannot is people of much in surface take real refractory drops. opens opportunities much, great the the itself, population and the door ocular is that in and opportunity actually, the disease a wider of space

Jonathan Wolleben

And of you'd looking you beyond what kind and you safety, time OTX-CSI, measuring? this discuss on can for be determine just points what one kind to will working of Thanks. measurements how is be

Antony Mattessich

do you to Sure. Mike, that? handle want

Dr. Michael Goldstein

Yes, sure.

a So, three cyclosporine release intracanalicular a to that's is insert cyclosporine designed new program. approximately OTX-CSI It's months. for

our occlusion, the of which its FDA eye get punctal you also So, the the advantage care management you patients. which we in space release two works dry advantage of based approvals also of in know on of the medication, we get know and works as standard of

this about program. excited So, super

we is eye X study a patients dry been initiated. with It disease. in as study has mentioned, the As Phase

the cyclosporine many, tolerated mentioned, well we X We As know on we know and and Phase focused primarily will works well patients. has many focus hydrogel safety, insert there. been that in intracanalicular studies are we

need we something but up. there to concerns no So, follow

eye perspective, an symptoms signs will disease. dry and efficacy follow we of From

to by metrics, would standard signs things expect symptoms over is scale. also larger and for patient will a eye year. be dry And analog following of then studies, some corneal those a include measured So, the interval. Phase Phase dry plan to the looking months, completed, and like the to We’ll of following you'd OSDI this in as using the we'll with transition X reported that both the We're that then, fluorescein at which X later the eye eye look physicians, four staining. like be, for the patients would study, dry once the see outcomes, signs and symptoms visual include

Antony Mattessich

then eye and treatment standpoint, important that a but as also eye. dry which it's thinking to physicians actually also without it's much And a the standard a disease get drug CSI think to so punctum. just of episodic DEXTENZA the I treatment a already punctum, release, doing, in understand preservative occlusion is release they're the disease, dry marketing getting chronic punctal do drug state in from easier including that the something a both is by steady to benefits of including for of

So, it it procedure flow also code is procedure. a than -- teach to they've have be of market something practitioners do go another to past. in tremendous rather able having is of to to than part benefit the opportunity a to the for the of attached able what us done different It to with to the has rather not than be that

apply And to both would not would one ocular surgery. that procedure category, over would time, procedure the surface to those same another because upon clearly time, of in at happening space make code be and it the dependent XXXT the in we independent be ophthalmologist So, a would products. XXXT expect

Jonathan Wolleben

Thanks That's the very taking again helpful. questions. for

Antony Mattessich

you. Thank

Operator

from [Operator comes the of Chen Instructions] line Our Wainwright. next question H.C. Yi with

open. is line Your

Boobalan Pachaiyappan

dialing is thanks for Hi. my And Chen. This Yi Boobalan for in questions. taking

COVID-XX So, any conjunctivitis? does on I'm have impact submission whether sNDA curious, your for allergic

Antony Mattessich

complete. is pandemic. No, it data The through working The FDA still the COVID wouldn't. is

short be that very very track So, on a to able sNDA FDA are have filed, to the time. that hopeful turnaround get much then relatively we're and will

Boobalan Pachaiyappan

on to respect with any have helpful. that? TKI trial, Okay. That's impact will very COVID-XX your And

Antony Mattessich

that. To on date, it's had no impact

Boobalan Pachaiyappan

Okay.

Antony Mattessich

expect don't to. And it we

Boobalan Pachaiyappan

Okay, great. again about COVID-XX. question, final And

new So, clinical expect delay study, of initiation do due any such as the eye the COVID-XX? in you to dry trials,

Antony Mattessich

experienced delay. have a not We

have is been. and not delays other any cohorts enrolling referenced expect experienced any Mike start slow the we trial. CSI earlier, somewhat we delays But, X Phase else, the our the of in don't anywhere than TIC cohort have As

Boobalan Pachaiyappan

much. so you Thank it. That's Okay.

Antony Mattessich

Thank you.

Operator

participating. call. further I'm gentlemen, showing in at Thank for no questions this Ladies and today's this time. conference concludes queue you

may disconnect. You now

Ocular Therapeutix (OCUL) 8 May 202020 Q1 Earnings call transcript