Ocugen Q1 2023 Earnings Report
Key Takeaways
Ocugen reported a net loss of $0.07 per share for the first quarter of 2023. The company's cash, cash equivalents, and investments totaled $76.7 million as of March 31, 2023, which is expected to fund operations into the first quarter of 2024.
Announced positive preliminary safety and efficacy results from the Phase 1/2 trial of OCU400 for the treatment of Retinitis Pigmentosa (RP) and Leber Congenital Amaurosis (LCA).
Received Orphan Drug Designation (ODD) from the FDA for OCU410ST for the Treatment of ABCA4-Associated Retinopathies.
Submitted Multiple Proposals for Federal Funding of Ocugen’s Inhaled Vaccines for COVID-19 and Flu.
Focusing efforts on the development of the inhaled mucosal vaccine platform, starting with quadrivalent flu and bivalent COVID-19.
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Forward Guidance
Ocugen will continue to deliver on corporate goals and scientific programs throughout 2023 and looks forward to providing updates across its comprehensive portfolio in the coming months.