RTTNews | Oct 7, 2020 10:18AM EDT

10:18 Wednesday, October 7, 2020 (RTTNews.com) - Shares of Ocular Therapeutix, Inc. (OCUL) are climbing more than 17% Wednesday morning after the company announced that its third-quarter preliminary product revenue represents 250% sequential increase.

The stock touched a new high of $10.23 this morning.

Ocular Therapeutix said its preliminary third quarter product revenue is in the range of $5.8 to $5.9 million, 250% up from the previous quarter.

The company's lead product is Dextenza, used for the treatment of inflammation and pain following ophthalmic surgery.

The other product approved from the company is ReSure Sealant, indicated for sealing clear corneal incisions following cataract surgery. Ocular Therapeutix plans to announce third-quarter results on November 5.

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