Ocular Therapeutix Announces Permanent J-Code for DEXTENZA (dexamethasone ophthalmic insert) Effective October 1, 2019

Ocular Therapeutix, Inc. (NASDAQ:OCUL), a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, announced that the Centers for Medicare and Medicaid Services (CMS) has issued a permanent product-specific J-code for DEXTENZA (dexamethasone ophthalmic insert) 0.4mg for intracanalicular use. Under the Healthcare Common Procedure Coding System (HCPCS), the J-code (J1096) will become effective October 1, 2019 and will replace the previously issued C-code for DEXTENZA (C9048), which became effective July 1, 2019. The Company will retain transitional pass-through status granted for DEXTENZA from CMS.

“We are pleased that DEXTENZA has received its own permanent product-specific J-Code,” said Antony Mattessich, President and Chief Executive Officer. “DEXTENZA, unlike most products with pass-through payment status, may be deployed intra-operatively, but may over time also be utilized in the office setting. We have had a significant number of physicians who have expressed interest in using DEXTENZA in the office setting so their patients can enjoy the benefits of local programmed release treatment while the surgeon’s time in surgery is fully optimized. J-Codes are more widely recognized by commercial insurance and Medicare Advantage and Part B plans, and physician familiarity with J-codes should allow for a simpler and more convenient reimbursement process that we believe will further contribute to DEXTENZA’s commercial potential.”

About DEXTENZA (dexamethasone ophthalmic insert) 0.4 mg
DEXTENZA is an FDA-approved corticosteroid indicated for the treatment of ocular inflammation and pain following ophthalmic surgery. DEXTENZA is inserted into the canaliculus by the physician following ophthalmic surgery. A single DEXTENZA releases a 0.4 mg dose of dexamethasone for up to 30 days following insertion. DEXTENZA is preservative free, resorbable and does not require removal.

DEXTENZA is contraindicated in patients with active corneal, conjunctival or canalicular infections. Prolonged use of corticosteroids may result in glaucoma with damage to the optic nerve, defects in visual acuity and fields of vision. Steroids should be used with caution in the presence of glaucoma. Intraocular pressure should be monitored during the course of the treatment. Corticosteroids may suppress the host response to, and increase the hazard for and severity of, secondary bacterial, viral, or fungal infections. The use of steroids after cataract surgery may delay wound healing and increase the incidence of bleb formation.