OCUL at a glance
OCULAR THERAPEUTIX, INC (OCUL, SEC CIK 1393434) filed its latest 10-K annual report on February 5, 2026, a 10-Q quarterly report on August 3, 2026, an 8-K current report on August 3, 2026 and Form 4 insider filings as recently as October 6, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), OCULAR THERAPEUTIX, INC (OCUL) reported revenue of $52.0 million (down 18.5% from FY2024) and a net loss of $265.9 million. Diluted EPS was -$1.42.
- As of June 30, 2026, 29 institutional investment managers tracked by SignalX reported holding OCULAR THERAPEUTIX, INC (OCUL) shares worth $889.6 million in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Kaiser Peter on October 2, 2026 of 9,990 shares at $7.05 per share.
- In the last 90 days, OCUL insiders reported 0 open-market purchases ($0) and 8 open-market sales ($713K) on Form 4, a net sale of $713K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $52.0M
- −18.5% vs prior year
- Insiders · 90 days
- 0 buys · 8 sells
- Net −$713K
- 13F holders
- 29 funds
- $889.6M · −1 vs prior quarter
- Latest 8-K
- Aug 3, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Integrated biopharmaceutical company developing ELUTYX hydrogel-based ocular drug delivery platform for retina diseases
- New emphasis on AXPAXLI (OTX-TKI), a Phase 3 axitinib intravitreal hydrogel implant targeting wet AMD and diabetic retinal disease with registrational trials SOL and HELIOS
- Strategic shift: Expansion from commercial DEXTENZA steroid to late-stage novel AXPAXLI candidate with accelerated NDA timeline via 505(b)(2) pathway
- Quantitative highlight: SOL-1 trial randomized 344 subjects by Dec 2024; SOL-R trial randomized 631 subjects by Nov 2025 across US, Argentina, India, Australia
- Noteworthy fact: ELUTYX technology used in 5 million+ patients since 1992; DEXTENZA implanted in nearly 750,000 eyes with adverse events in 0.02% patients
Risk Factors
- Regulatory risk: FDA may require additional trials delaying AXPAXLI approval for wet AMD and diabetic retinal disease
- Macroeconomic exposure: $82.5M debt under Barings Credit Facility requires minimum liquidity $20M, royalty fee 3.5% of DEXTENZA sales
- Operational vulnerability: reliance on scaling manufacturing and commercial capabilities for DEXTENZA and AXPAXLI commercialization
- Competitive risk: uncertainty if AXPAXLI achieves sufficient market acceptance against other treatments for wet AMD and NPDR
- Financial risk: net losses $265.9M in 2025, accumulated deficit $1.157B, may require additional capital raising causing dilution or operational constraints
Management Discussion & Analysis
- Revenue $51.9M in 2025 vs $63.7M in 2024 and $58.4M in 2023, declining due to decreased DEXTENZA sales
- Net loss widened to $265.9M in 2025 from $193.5M in 2024 and $80.7M in 2023; operating expenses $322.0M in 2025
- Operating margin negative, reflecting sustained losses and increasing R&D and commercial expenses
- Cash and cash equivalents $737.1M at Dec 31, 2025; financing activities provided $561.7M in 2025 including $445.6M from 2025 stock offering
- Management expects cash to fund operations into 2028 but anticipates need for additional funds to commercialize AXPAXLI if approved
AI summary of the OCUL 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Revenue $13.475M, up $16K YoY from $13.459M, including DEXTENZA product revenue $13.475M
- DEXTENZA net revenue up $80K YoY; gross-to-net provisions 55.0% vs 51.7%
- Operating loss $82.109M vs $67.641M; operating margin -609.3% vs -502.6%
- Net loss $78.763M vs $67.814M; research and development expense $54.138M
- Outlook: DEXTENZA growth from HOPD sales, offset by higher gross-to-net adjustments; AXPAXLI NDA submission expected fourth quarter 2026
Risk Factors
- No risk-factors section provided; supplied text contains Item 5, exhibits, and signatures only
- No newly added risk factor identifiable from the provided filing text
- No materially updated regulatory, legal, operational, competitive, market, or financial risk disclosed in the provided text
AI summary of the OCUL 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Item 2.02 contains only boilerplate legal language
- No fiscal-year 2026 financial results or operating metrics disclosed in the provided text
Item EX-99.1: Item EX-99.1
- Q2 2026 revenue $13.5M, flat YoY, while net loss widened to $78.8M from $67.8M
- Cash $598.6M supports planned operations into 2028, excluding full potential AXPAXLI commercialization costs
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Stockholders approved 10,000,000 additional shares under the 2021 Stock Incentive Plan, increasing potential equity dilution
- Jason Robins appointed permanent CFO after serving as interim CFO since January 20, 2026
Item 5.07: Submission of Matters to a Vote of Security Holders
- Pravin U. Dugel and Merilee Raines elected as Class III directors through the 2029 annual meeting
- Executive compensation approved advisory vote, with 116,101,559 votes for and 40,115,637 against
Item 2.02: Results of Operations and Financial Condition
- Section 2.02 text contains only disclosure-law disclaimers
- No earnings figures, reporting period, operating results, or financial guidance provided
Item EX-99.1: Item EX-99.1
- Q1 2026 net revenue $10.8M, up 0.8% from $10.7M; commercial revenue remained stable
- Net loss widened to $88.6M, or $0.40 per share, from $64.1M, reflecting heavier development spending
AI summaries of OCUL 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for OCUL
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Kaiser Peter | Sell | Oct 2, 2026 | 9,990 | $7.05 |
| Heier Jeffrey S. | Sell | Oct 2, 2026 | 10,869 | $7.05 |
| Notman Donald | Sell | Aug 31, 2026 | 1,099 | $10.24 |
| Dugel Pravin | G | Aug 25, 2026 | 50,092 | - |
| Dugel Pravin | G | Aug 25, 2026 | 50,092 | - |
| Dugel Pravin | G | Aug 25, 2026 | 50,092 | - |
| Dugel Pravin | G | Aug 25, 2026 | 50,092 | - |
| Dugel Pravin | Sell | Aug 24, 2026 | 21,649 | $10.77 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $63.7M | $52.0M |
| Operating Income | - | -$171.8M | -$270.0M |
| Net Income | -$80.7M | -$193.5M | -$265.9M |
| Op. Margin | - | -269.6% | -519.8% |
| Net Margin | - | -303.7% | -511.9% |
| Balance Sheet | |||
| Total Assets | $252.1M | $457.9M | $808.1M |
| Equity | - | $315.3M | $654.3M |
| ROE | - | -61.4% | -40.6% |
| Per Share | |||
| EPS | $-1.02 | $-1.22 | $-1.42 |
| Cash Flow | |||
| Operating CF | - | -$134.7M | -$204.9M |
| CapEx | $6.1M | $1.3M | $12.0M |
Source: XBRL data in OCULAR THERAPEUTIX, INC (OCUL)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate OCUL share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 29 | $889.6M |
| Q1 2026 | 30 | $700.9M |
| Q4 2025 | 27 | $979.3M |
| Q3 2025 | 27 | $874.3M |
| Q2 2025 | 28 | $542.2M |
| Q1 2025 | 24 | $198.1M |
| Q4 2024 | 19 | $188.7M |
| Q3 2024 | 14 | $108.6M |
- BlackRock+3.24M (+20%)
- Dimensional Fund Advisors+2.13M (+328%)
- T. Rowe Price Group+1.73M (+29%)
- Goldman Sachs Group+651.4K (+59%)
- State Street Corp+524.9K (+11%)
- Renaissance Technologies LLC−769.2K (-67%)
- Two Sigma Investments−611.6K (-33%)
- Morgan Stanley−368.3K (-29%)
- Citadel Advisors LLC−325.4K (-51%)
- Invesco Ltd−192.4K (-13%)
- Allstate+16.0K
- Millennium Management−34.0K
- M&T Bank−10.7K
Source: 13F-HR filings on SEC EDGAR (aggregated from 198 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
OCUL filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
8-K current reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 6, 2026 | - | - | - |
| 4 | Oct 6, 2026 | - | - | - |
| 4 | Sep 2, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 10-Q | Aug 3, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 3, 2026 | - | Analysis | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 8-K | Jun 12, 2026 | - | Analysis | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 5, 2026 | - | - | |
| 4 | May 28, 2026 | - | - | |
| 4 | May 28, 2026 | - | - | |
| 4 | May 28, 2026 | - | - | |
| 4 | May 28, 2026 | - | - | |
| 8-K | May 5, 2026 | - | Analysis | - |
| 10-Q | May 5, 2026 | Mar 31, 2026 | Analysis |
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OCUL SEC filings: frequently asked questions
Are OCUL insiders buying or selling?
In the last 90 days, OCULAR THERAPEUTIX, INC (OCUL) officers, directors and 10% owners reported no open-market purchases and 8 open-market sales worth $713,297 by 5 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold OCUL stock?
As of June 30, 2026, the largest OCULAR THERAPEUTIX, INC (OCUL) holders among the 13F filers tracked by SignalX were FMR LLC (Fidelity) ($322.5 million), BlackRock ($190.3 million), Vanguard Capital Management LLC ($86.7 million), T. Rowe Price Group ($74.9 million), State Street Corp ($51.4 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was OCUL's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), OCULAR THERAPEUTIX, INC (OCUL) reported revenue of $52.0 million (down 18.5% from FY2024) and a net loss of $265.9 million. Diluted EPS was -$1.42. The figures come from the XBRL data in the 10-K.
What are the main risks in OCUL's latest 10-K?
In the 10-K filed February 5, 2026, OCULAR THERAPEUTIX, INC (OCUL) flagged: Regulatory risk: FDA may require additional trials delaying AXPAXLI approval for wet AMD and diabetic retinal disease. Macroeconomic exposure: $82.5M debt under Barings Credit Facility requires minimum liquidity $20M, royalty fee 3.5% of DEXTENZA sales. (AI summary of the Risk Factors section.)
What did OCUL report in its latest 8-K?
OCULAR THERAPEUTIX, INC (OCUL) filed an 8-K on August 3, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Item 2.02 contains only boilerplate legal language.
What are the latest OCUL SEC filings?
OCULAR THERAPEUTIX, INC (OCUL) filed its latest 10-K annual report on February 5, 2026, a 10-Q quarterly report on August 3, 2026, an 8-K current report on August 3, 2026 and a Form 4 insider filing on October 6, 2026.
What is OCUL's SEC CIK number?
OCULAR THERAPEUTIX, INC (OCUL)'s SEC Central Index Key (CIK) is 1393434. EDGAR lists every OCUL filing under that number.
Ask anything about OCUL
The research agent reads OCUL's filings, financials, insider trades and 13F holders, then answers with sources.