Ocular Therapeutix's stock tumbled 6.45% in pre-market trading on Tuesday following the release of its first-quarter 2026 financial results, which fell short of analyst expectations on both earnings and revenue.

The biopharmaceutical company reported a net loss of $0.40 per share, wider than the FactSet consensus estimate of a $0.31 loss. Revenue for the quarter reached $10.8 million, missing the $12.6 million estimate. The company's net loss widened to $88.6 million from $64.1 million a year earlier, driven by a significant increase in research and development expenses to $66.2 million from $42.9 million.

Despite the disappointing financial results, Ocular Therapeutix maintained a strong cash position of $666.7 million as of March 31, 2026, which the company expects will fund operations into 2028. The company also provided updates on its clinical trials, including progress with its AXPAXLI investigational product for wet age-related macular degeneration.