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Mar 31, 2020
Ocugen Q1 2020 Earnings Report
Ocugen reported financial results for the first quarter of 2020 and provided a business update.
Key Takeaways
Ocugen reported a net loss of $3.9 million, or $0.07 loss per share, for the three months ended March 31, 2020. The company's cash, cash equivalents and restricted cash totaled $3.3 million as of March 31, 2020. 100% of planned enrollment completed in Phase 3 oGVHD study; topline results anticipated by end of 2020
Completed 100% of planned enrollment in Phase 3 oGVHD study with OCU300.
Topline results for OCU300 Phase 3 trial anticipated by the end of 2020.
Completed warrant exchange, simplifying capital structure and allowing for raising capital.
Remains on track to advance OCU400, into the clinic in 2021.
Ocugen
Ocugen
Forward Guidance
Ocugen expects topline results from its Phase 3 trial with OCU300 for ocular Graft vs Host Disease (oGVHD) by the end of this year and remains on track to advance its first gene therapy product candidate, OCU400, into the clinic in 2021.
Positive Outlook
- Topline results from Phase 3 trial with OCU300 expected by the end of 2020
- Advancing first gene therapy product candidate, OCU400, into the clinic in 2021
- Completed 100% of planned enrollment in Phase 3 oGVHD study
- Completed warrant exchange
- Company received a loan in the form of a promissory note for $0.4 million under the Paycheck Protection Program.