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Mar 31
Ocugen Q1 2025 Earnings Report
Ocugen reported first quarter 2025 financial results
Key Takeaways
Ocugen reported a net loss of $15.4 million for Q1 2025, or $0.05 per share, compared to a net loss of $11.9 million, or $0.05 per share, in Q1 2024. Total revenue for the quarter was $1.5 million. The company ended the quarter with $38.1 million in cash and restricted cash.
Net loss for Q1 2025 was $15.4 million, compared to $11.9 million in Q1 2024.
Basic and diluted net loss per common share was $0.05 for both Q1 2025 and Q1 2024.
Total revenue for Q1 2025 was $1.5 million, an increase from $1.0 million in Q1 2024.
Cash and restricted cash totaled $38.1 million as of March 31, 2025, down from $58.8 million at the end of 2024.
Ocugen
Ocugen
Ocugen Revenue by Segment
Revenue by Segment
Collaborative Revenue
CapyFin.com Forward Guidance
Ocugen expects its cash and restricted cash runway to extend into the first quarter of 2026. The company anticipates potential BLA/MAA filings for OCU400 by mid-2026 and initiating the OCU410ST Phase 2/3 pivotal confirmatory clinical trial by mid-2025 with a target BLA filing in 2027. They also plan to complete the OCU200 Phase 1 clinical trial in the second half of 2025 and intend to initiate the NeoCart® Phase 3 trial contingent on funding/partnership.
Positive Outlook
- OCU400 Phase 3 clinical trial for RP is progressing well and on target for potential BLA/MAA filings by mid-2026.
- Anticipate initiating OCU410ST Phase 2/3 pivotal confirmatory clinical trial for Stargardt disease mid-2025.
- Alignment reached with the FDA to move forward with a Phase 2/3 pivotal confirmatory trial for OCU410ST.
- OCU200 Phase 1 clinical trial is progressing, with plans to complete in the second half of 2025.
- Investigational New Drug application is in effect for OCU500, with Phase 1 clinical trial expected to initiate in Q2 2025.
Challenges Ahead
- Initiation of NeoCart® Phase 3 trial is contingent on adequate availability of funding and/or based on the potential of a future partnership.
- Cash and restricted cash runway is expected into the first quarter of 2026, indicating a need for future funding.
- The company is continuing discussions with relevant government agencies and strategic partners regarding developmental funding for its vaccines technology for flu, suggesting current funding is not secured.
- Clinical trial outcomes are subject to risks and uncertainties, including the possibility that preliminary data may not be indicative of final results.
- Regulatory filings and development timelines are anticipated and subject to change based on clinical trial data and regulatory authority assessments.