| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 1.75 | 27.7% | 53.5% |
| Total Income | 1.75 | 27.7% | 53.5% |
| Expenditure | 19.38 | 27.8% | 34.7% |
| PBT | — | ||
| Net Profit | -20.05 | 36.0% | 54.6% |
| OPM | — | ||
| NPM | — | ||
| EPS | — |
Ocugen Reports Q3 2025 Financial Results and Business Update
04 May 2026 · 4 May, 8:03 am
Summary
Ocugen, Inc. reported its third quarter 2025 financial results and provided a business update. The company's Phase 2/3 trial for OCU410ST is progressing, and they have secured an agreement with Kwangdong Pharmaceutical for OCU400 in South Korea. Ocugen closed a $20 million registered direct offering, extending their cash runway into the second quarter of 2026. Cash, cash equivalents, and restricted cash totaled $32.9 million as of September 30, 2025.
Key Highlights
- 1
Ocugen's Phase 2/3 OCU410ST GARDian3 pivotal confirmatory trial is progressing toward a 1H 2027 Biologics License Application (BLA) filing, with 50% enrollment completed to date.
- 2
The European Medicines Agency (EMA) has accepted a single U.S.-based trial for submission of a Marketing Authorization Application (MAA) for OCU410ST.
- 3
Ocugen executed a licensing agreement with Kwangdong Pharmaceutical for exclusive rights in South Korea to OCU400, with potential sales milestones of $1.5 million for every $15 million of sales.
- 4
The company closed a $20 million registered direct offering of common stock and accompanying premium warrants.
- 5
Ocugen anticipates that the $20 million financing will provide sufficient runway to operate through 2Q 2026.
- 6
The company's cash, cash equivalents, and restricted cash totaled $32.9 million as of September 30, 2025.
- 7
Total revenue for the three months ended September 30, 2025 was $1.752 million.
Management Comments
Shankar Musunuri
With two late-stage modifier gene therapies on track to meet 2026 and 2027 BLA/MAA filings, it’s remarkable to look back and recognize we only began dosing the first patient in the Phase 1/2 OCU400 clinical trial in 2022. The OCU410ST Phase 2/3 GARDian3 pivotal confirmatory trial is following close behind the OCU400 Phase 3 liMeLiGhT clinical trial, and with 50% enrollment completed to date, we believe recruitment will be completed in the first quarter of 2026. This progress not only reinforces our commitment to file three BLAs in the next three years, but it also brings us closer to addressing the incredible unmet medical needs that exist for patients facing vision loss. We will continue to pursue financing opportunities along with strategic business development to fund the Company into commercialization. We have engaged with potential funding and business partners during various investor and global conferences. I look forward to additional substantive conversations between now and the end of the year.
Informational and educational content only. Not investment advice.