2024 Ophthalmic Revenue Roundup for Apellis, Immunocore, Sight Sciences, Ocular Therapeutix, Lensar, and ANI

Apellis Generates 2024 Syfovre Revenue of $611.8 Million

Apellis Pharmaceuticals, of Waltham, Massachusetts, reported Feb. 28 that its 2024 net product revenue for Syfovre was $611.8 million, a 122.3 percent increase over $275.2 million in 2023.

The company launched Syfovre, a treatment for geographic atrophy secondary to age-related macular degeneration, on March 1, 2023. A permanent J-code for Syfovre became effective Oct. 1, 2023.

Q4-2024 net product revenue for Syfovre was $167.8 million, a 46.8 percent increase over $114.3 million in Q4-2023.

In Q4-2024, Apellis delivered about 94 thousand Syfovre doses to physician practices, made up of about 89 thousand commercial vials and 4,600 samples. The company estimates that more than 510 thousand Syfovre injections have been administered since the launch through December 2024, including clinical trials.

Apellis generated total 2024 revenue of $781.4 million.

Immunocore Posts 2024 Kimmtrak Revenue of $310 million

UK-headquartered Immunocore reported Feb. 26 that its 2024 net product revenue from Kimmtrak (tebentafusp) was $310.0 million, a 30 percent increase over $238.7 million in 2023.

The 2024 total was made up of $226.7 million in revenue in the US, $73.2 million in Europe, and $10.1 million in other international regions.

Kimmtrak’s Q4-2024 net product revenue was $84.1 million, a 24.4 percent increase over $67.6 million in Q4-2023.

The high-affinity T cell receptor gained US FDA approval in January 2022 and European approval in April 2022.

Kimmtrak is now approved in 39 countries and has been launched in 24 for HLA-A*02:01+ individuals with metastatic uveal melanoma.

Sight Sciences Reports 2024 Revenue of $79.9 Million

Sight Sciences reported March 5 that it generated 2024 total revenue of $79.9 million, a 1 percent decrease from $81.1 million in 2023.

Surgical glaucoma revenue in 2024 was $75.9 million, a 2 percent increase over $74.3 million in 2023.

Dry eye revenue was $4 million, down from $6.7 million in 2023.

The Menlo Park, California, company generated Q4-2024 revenue of $19.1 million, a 2 percent increase over $18.8 million in Q4-2023.

Surgical glaucoma revenue in Q4-2024 was $18.8 million, a 9 percent increase over $17.2 million in Q4-2023. Sight Sciences said the improvement was driven primarily by a 7 percent increase in ordering accounts and a 6 percent increase in account use.

Q4-2024 dry eye revenue was $0.3 million, down from $1.6 million in Q4-2023, which the company said mainly was due to fewer SmartLids sales, a result of the company’s focus on achieving reimbursed market access for TearCare procedures instead of cash pay procedures.

The company said it expects its revenue for full year 2025 to range from $70.0 million to $75.0 million, representing a 6 to 12 percent decline from 2024, based on the company’s anticipation that the MIGS market will be affected by the new Medicare Administrative Contractors’ restriction of coverage for multiple MIGS procedures when performed in combination with cataract surgery. Sight Sciences said its guidance also assumes revenue of about $1.0 million for its dry eye segment and does not contemplate achievement of positive reimbursement coverage or payment decisions for dry eye in 2025.

Ocular Therapeutix Generates 2024 Net Revenue of $63.7 Million

Ocular Therapeutix of Bedford, Massachusetts, reported March 3 that its 2024 net revenue was $63.7 million, a 9.0 percent increase over $58.4 million in 2023. Net revenue consisted of Dextenza product sales and collaboration revenue.

The company’s Q4-2024 net revenue was $17.1 million, a 15.4 percent increase over $14.8 million in Q4-2023.

Pravin Dugel, MD, president and CEO of Ocular Therapeutix, said in the company’s earnings release: “With our registrational program for Axpaxli making significant progress in wet AMD and plans coming into focus this year for NPDR and DME, we believe we are well on our way to becoming a leading retina company.”

The company said it had a cash balance of $392.1 million, as of the end of 2024, expected to fund operations into 2028; it does not intend to raise additional capital in 2025.

Lensar Posts 2024 Revenue of $53.5 Million

Lensar, of Orlando, Florida, reported Feb. 27 that its 2024 revenue was $53.5 million, a 27 percent increase over $42.2 million in 2023.

The company said growth was primarily due to increases in Ally system placements and procedure volume.

Lensar placed over 80 Ally systems in 2024, increasing the installed base to more than 135 systems and the combined installed base of Lensar and Ally systems to about 385—a 26 percent increase over 305 systems at the end of 2023.

Global procedure volume in 2024 totaled 169,506, with US procedure volume up 21 percent over 2023, and worldwide procedure volume up 24 percent.

Q4-2024 revenue was $16.7 million, a 38 percent increase over $12.1 million in Q4-2023.

Lensar said it expected topline revenue growth in 2025 beyond the 27 percent achieved in 2024, driven by sustained strong demand for Ally systems, mid-2024 regulatory clearances in the EU and Taiwan, and new customers accounting for about 75 percent of total US placements in 2024.

ANI Reports Q4-2024 Net Revenue for Iluvien and Yutiq of $27.6 Million

Baudette, Minnesota-based ANI Pharmaceuticals reported Feb. 28 that its Q4-2024 revenue for Iluvien and Yutiq was $27.6 million in its first full quarter of ownership of the ophthalmic drugs following ANI’s acquisition of Alimera Sciences in September 2024.

Alimera’s Q4-2023 net revenue for those products was $26.3 million. 

ANI breaks out its 2025 revenue guidance by product. The company’s 2025 guidance for Iluvien and Yutiq is $97 million to $103 million.

ANI said it had submitted a prior approval supplement (PAS) to the US FDA seeking to add Yutiq’s indication of chronic non-infectious uveitis affecting the posterior segment of the eye (NIU-PS) to the Iluvien label. The company expects FDA approval of the PAS in Q2-2025 and plans to market Iluvien for chronic NIU-PS, in addition to its current indication of diabetic macular edema, in the US.

ANI noted that Iluvien is already approved and marketed for DME and NIU-PS in 17 European countries and the Middle East.

ANI also sells purified Cortrophin gel, whose eight indications include ophthalmic uses.

The company’s total net revenue for Q4-2024 was $190.6 million, an increase of 44.8 percent over $131.7 million in Q4-2023.