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Jun 30, 2024

Ocugen Q2 2024 Earnings Report

Reported second quarter 2024 financial results and provided a business update.

Key Takeaways

Ocugen reported second quarter 2024 financial results, highlighting progress in their modifier gene therapy platform, including dosing patients in the OCU400 Phase 3 clinical trial and advancing OCU410 into Phase 2. They also received $32.6 million net cash from a public offering, extending their cash runway into Q3 2025.

Actively dosing patients in OCU400 Phase 3 liMeliGhT clinical trial.

OCU410 preliminary safety and efficacy data expected later this year.

Expanded access program approved for OCU400.

Received $32.6 million net cash from underwritten public offering of common stock.

Total Revenue
$1.14M
EPS
-$0.04
Previous year: -$0.1
-60.0%
Gross Profit
$563K
Previous year: -$308K
-282.8%
Cash and Equivalents
$15.7M
Previous year: $70.6M
-77.8%
Free Cash Flow
-$10.4M
Previous year: -$21.6M
-51.7%
Total Assets
$40.5M
Previous year: $89M
-54.4%

Ocugen

Ocugen

Forward Guidance

Ocugen expects the cash runway to extend into the third quarter of 2025.