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Jun 30, 2020
Ocugen Q2 2020 Earnings Report
Reported second quarter 2020 financial results and provided a business update.
Key Takeaways
Ocugen reported a net loss of $3.6 million, or $0.19 loss per share, for the three months ended June 30, 2020. The company's cash, cash equivalents and restricted cash totaled $15.1 million as of June 30, 2020. Ocugen sold an aggregate of 59.1 million shares of common stock in separate at-the-market offerings generating net proceeds of $15.4 million and increasing its cash runway into the first quarter of 2021.
Received two additional Orphan Drug Designations for OCU400 modifier gene therapy program.
Discontinued OCU300 for ocular Graft vs. Host Disease and initiated a workforce reduction.
Extended cash runway into the first quarter of 2021 with $15.4 million in net proceeds from at-the-market offerings.
Appointed Dr. Mohamed Genead as chair of the Retina Scientific Advisory Board.
Forward Guidance
Ocugen expects the workforce reduction will result in approximately $2.0 million in annualized cost savings commencing in 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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