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Dec 31, 2019
Ocugen Q4 2019 Earnings Report
Reported full year 2019 financial results along with a general business update.
Key Takeaways
Ocugen reported a net loss of $20.2 million for the year ended December 31, 2019. The company's cash, cash equivalents and restricted cash totaled $7.6 million as of December 31, 2019. Over 95% planned enrollment completed in Phase 3 oGVHD study; topline results anticipated by end of 2020
Completed over 95% of planned enrollment in Phase 3 trial for OCU300 (oGVHD) with topline results anticipated by the end of the year.
Nature Gene Therapy published preclinical data related to OCU400, supporting its potential as a broad-spectrum therapy for retinitis pigmentosa.
Drew down an additional $0.5 million under its loan agreement with EB5 Life Sciences, L.P.
Cash, cash equivalents and restricted cash totaled $7.6 million as of December 31, 2019, compared to $1.8 million as of December 31, 2018.
Ocugen
Ocugen
Forward Guidance
Ocugen is anticipating topline results for OCU300 by the end of the year and continues to advance IND-enabling studies for OCU400 with a Phase 1/2a clinical trial planned for 2021.
Positive Outlook
- Completed over 95% of planned enrollment in Phase 3 trial for OCU300 (oGVHD).
- Anticipating topline results for OCU300 by the end of the year.
- Preclinical data for OCU400 published in Nature Gene Therapy.
- Advancing IND-enabling studies for OCU400.
- Phase 1/2a clinical trial planned for OCU400 in 2021.
Challenges Ahead
- Potential impact of ongoing COVID-19 pandemic-related events on programs and plans.
- Net loss of $20.2 million for the year ended December 31, 2019.
- Operating loss of $14.2 million for the year ended December 31, 2019.
- Accumulated deficit of $51,479,824
- Uncertainty regarding future financial performance