Ocugen Q2 net loss $0.10/share; cash at $70.6M; INDs cleared for two gene therapies

Ocugen, Inc.

2023-Q2 EPS reported -$0.17 revenue$928,000

Cash, cash equivalents & investments $70.6M at June 30, 2023, down from $90.9M at Dec 31, 2022.
Net loss per share $0.10 for Q2 2023 vs $0.09 a year ago; includes $4.4M non-cash impairment on COVAXIN supply asset.
Operating expenses $23.7M (R&D $14.2M, G&A $9.6M); R&D includes $4.4M impairment and disposal loss.
FDA cleared INDs for OCU410 (geographic atrophy) and OCU410ST (Stargardt disease); Phase 1/2 trials planned by year-end.
OCU400 Phase 3 trial expected to begin late 2023/early 2024; updated Phase 1/2 results due this quarter.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ocugen, Inc. reported second quarter ended June 30, 2023 results: net income $0.10 net loss per common share, EPS $0.10 net loss per common share.

Period: second quarter ended June 30, 2023
Net income: $0.10 net loss per common share
EPS: $0.10 net loss per common share
Result: reported results

Exact text from the filing

Ocugen reported a $0.10 net loss per common share for the three months ended June 30, 2023 compared to a $0.09 net loss per common share for the three months ended June 30, 2022.

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Source: SEC EDGAR

accession 0001628280-23-030137

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