Ocugen Q4 2025 net loss $0.06/share; OCU400 Phase 3 enrollment complete; cash $18.9M

Ocugen, Inc.

Fourth quarter 2025 net loss $0.06 per share (vs $0.05 Q4 2024); full year net loss $0.23 per share (vs $0.20).
Cash and restricted cash $18.9M at Dec 31, 2025 ($58.8M year-end 2024); January 2026 raised $22.5M via stock offering led by RTW Investments.
OCU400 Phase 3 liMeliGhT trial for retinitis pigmentosa completed enrollment (140 patients); topline data expected Q1 2027.
OCU410ST Phase 2/3 GARDian trial nearing enrollment completion; interim data Q3 2026; OCU410 Phase 2 showed 46% lesion growth reduction.
Exclusive Korean rights to OCU400 licensed to Kwangdong Pharmaceutical with upfront fees and milestones.

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