NASDAQ$IRD
Opus Genetics Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Ocuphire reported financial results for the first quarter of 2023 and provided a corporate update.
Ocuphire Pharma reported license and collaborations revenue of $1.7 million for Q1 2023, derived from reimbursement of research and development services under the Nyxol License Agreement. The company's cash and cash equivalents were approximately $39 million, sufficient to fund operations into 2025. Net loss for the quarter was $5.8 million, or ($0.28) per share.
- License and collaborations revenue was $1.7 million for the three months ended March 31, 2023.
- Cash and cash equivalents of approximately $39.0 million as of March 31, 2023.
- Net loss for the quarter ended March 31, 2023 was $5.8 million or ($0.28) per share.
- Company anticipates an End-of-Phase 2 meeting with the FDA to confirm Phase 3 regulatory path for Oral APX3330 in DR in the second half of 2023.
Headline financials
Revenue & EPS history
Ocuphire · Revenue · Quarterly
$1.75M
Revenue by segment
Ocuphire · $100K total across 1 segment · Q2 2021
- Collaboration Revenue$100K—100.0%
Forward guidance
Ocuphire anticipates several milestones, including an End-of-Phase 2 meeting with the FDA for APX3330 in the second half of 2023 and a PDUFA date for Nyxol in Reversal of Mydriasis (RM) on September 28, 2023.
Tailwinds
- Potential FDA approval of Nyxol in RM, triggering a $10 million milestone payment.
- Topline results from the VEGA-2 Phase 3 pivotal trial of Nyxol in Presbyopia expected in late 2023.
- APX3330 achieved statistical significance on a key pre-specified secondary endpoint in the ZETA-1 Phase 2 trial.
- Oral APX3330 has potential as a non-invasive, early intervention treatment for DR patients.
- Cash balance of $39 million expected to fund operations into 2025.
Headwinds
- Success and timing of regulatory submissions and clinical trials are subject to risks and uncertainties.
- Changes to clinical trial designs and regulatory pathways could affect outcomes.
- The company's ability to obtain sufficient additional capital to continue to advance its product candidates is a risk.
- Legislative, regulatory, political, and economic developments could impact results.
- The Nyxol partnership may not facilitate commercialization or market acceptance of Ocuphire’s product candidates.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
-3.6%
Avg return
Earnings day
-3.8%
Avg return
5 days after
-3.7%
Avg return
30 days after
42%
14 / 33 earnings
Positive
+16.7%
Q1 2017
Best reaction
-47.3%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.2% | -6.1% | -23.7% | |
| Q4 2025 | +1.7% | +5.5% | +15.3% | |
| Q3 2025 | -3.1% | -11.7% | +19.8% | |
| Q2 2025 | +7.4% | +0.9% | +25.5% | |
| Q1 2025 | +7.5% | +4.2% | +2.1% | |
| Q3 2024 | -7.7% | -9.4% | -5.1% | |
| Q2 2024 | -24.7% | -19.9% | -24.1% | |
| Q1 2024 | -14.3% | -11.7% | -13.8% | |
| Q4 2023 | -12.2% | -13.9% | -19.7% | |
| Q3 2023 | +13.4% | +3.5% | -4.9% | |
| Q2 2023 | +0.5% | +0.7% | -3.1% | |
| Q1 2023 | -18.9% | -28.0% | -36.0% | |
| Q4 2022 | +4.2% | +44.2% | +42.5% | |
| Q3 2022 | -2.8% | +13.1% | +52.3% | |
| Q2 2022 | -9.7% | -6.1% | -14.3% | |
| Q1 2022 | +8.5% | +6.5% | +5.5% | |
| Q4 2021 | +11.1% | -9.9% | -35.9% | |
| Q3 2021 | -0.3% | -10.9% | -5.6% | |
| Q2 2021 | -8.5% | -14.7% | -0.6% | |
| Q1 2021 | -7.8% | -5.9% | +17.4% | |
| Q4 2020 | -12.7% | -7.8% | -34.7% | |
| Q3 2020 | +1.4% | -10.8% | -22.4% | |
| Q2 2020 | -1.6% | +1.2% | -25.9% | |
| Q1 2020 | -16.4% | -2.7% | +3.8% | |
| Q3 2019 | -5.9% | -9.3% | -11.2% | |
| Q2 2019 | -47.3% | -49.3% | -54.8% | |
| Q1 2019 | -10.4% | -11.0% | -10.3% | |
| Q2 2018 | +2.7% | +5.4% | +17.0% | |
| Q4 2018 | -2.9% | -3.5% | -4.7% | |
| Q3 2017 | +4.9% | +6.5% | +15.7% | |
| Q2 2017 | +5.9% | -1.6% | +26.5% | |
| Q1 2017 | +16.7% | +29.2% | -10.4% | |
| Q2 2016 | +0.0% | -3.7% | -3.7% | |
| Q1 2014 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro