Ocugen Q2 net loss $0.07/sh; closes $130M notes; OCU410 Phase 3 cleared by FDA

Ocugen, Inc.

Net loss $24.9M ($0.07/sh) vs $14.7M ($0.05/sh) in Q2 2025; operating expenses $17.9M.
Cash $100.4M as of June 30, 2026; closed $130M 6.75% convertible notes due 2034, net $112.5M.
FDA clearance to initiate OCU410 Phase 3 for geographic atrophy; RMAT designation granted.
Signed binding term sheet with Roots Pharmaceutical for OCU400 license in MENA: up to $255M milestones + 22% royalty.
OCU400 RP Phase 3 enrollment complete (N=140); topline Q1 2027. OCU410ST Stargardt enrollment complete (63 subjects); topline Q2 2027.

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