By Kelly Cloonan

Shares of Ocular Therapeutix fell after the company's first-quarter earnings and revenue missed Wall Street's expectations and its research-and-development expenses doubled.

The stock fell 11% to $7.87 on Monday. Shares have risen 28% in the past 12 months.

The company on Monday posted a loss of $64.1 million, or 38 cents a share, compared with $64.8 million, or 49 cents a share, a year earlier. Analysts polled by FactSet expected a loss of 29 cents a share.

Revenue fell 28% to $10.7 million. Analysts expected $17 million.

The company's research-and-development expenses more than doubled to $42.9 million, up from $20.7 million in the same period a year earlier.

The increase reflects higher overall clinical expenses associated with its SOL-1 and SOL-R Phase 3 trials, as well as additional personnel and professional services to support the trials, the company said.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

May 05, 2025 11:50 ET (15:50 GMT)

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