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Ocugen | 10-Q: Q2 2024 Earnings Report

Ocugen | 10-Q: Q2 2024 Earnings Report

Ocugen | 10-Q:2024财年二季报
美股SEC公告 ·  08/08 18:11

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Ocugen reported Q2 2024 financial results, with revenue increasing to $1.14 million from $485,000 in Q2 2023. Net loss narrowed to $15.28 million from $23.07 million year-over-year. Research and development expenses decreased by $5.67 million to $8.90 million, primarily due to the termination of the COVAXIN program.The company highlighted progress across its pipeline, including dosing the first patient in the Phase 3 trial of OCU400 for retinitis pigmentosa in June 2024. Ocugen also completed high-dose cohorts for OCU410 and OCU410ST in geographic atrophy and Stargardt disease trials, respectively. The inhaled COVID-19 vaccine candidate OCU500 was selected by NIAID for clinical trials expected to begin in 2024.As of June 30, 2024, Ocugen had $16.0 million in cash and equivalents. The company expects current funds to support operations into Q3 2025 but noted substantial doubt about its ability to continue as a going concern within one year. Management is evaluating strategies to obtain additional funding for future operations.
Ocugen reported Q2 2024 financial results, with revenue increasing to $1.14 million from $485,000 in Q2 2023. Net loss narrowed to $15.28 million from $23.07 million year-over-year. Research and development expenses decreased by $5.67 million to $8.90 million, primarily due to the termination of the COVAXIN program.The company highlighted progress across its pipeline, including dosing the first patient in the Phase 3 trial of OCU400 for retinitis pigmentosa in June 2024. Ocugen also completed high-dose cohorts for OCU410 and OCU410ST in geographic atrophy and Stargardt disease trials, respectively. The inhaled COVID-19 vaccine candidate OCU500 was selected by NIAID for clinical trials expected to begin in 2024.As of June 30, 2024, Ocugen had $16.0 million in cash and equivalents. The company expects current funds to support operations into Q3 2025 but noted substantial doubt about its ability to continue as a going concern within one year. Management is evaluating strategies to obtain additional funding for future operations.
Ocugen报告了2024年第二季度的财务结果,营业收入从2023年第二季度的485,000美元增加到114万美元。净亏损由去年的2307万美元缩小至1528万美元。研发费用减少了567万美元,降至890万美元,这主要是由于COVAXIN项目的终止。该公司强调了其产品线的进展,包括在2024年6月对OCU400进行视网膜色素变性第三阶段试验的首位患者进行给药。Ocugen还在地理性萎缩和Stargardt病试验中完成了OCU410和OCU410St的高剂量组。吸入式COVID-19生物-疫苗候选药物OCU500被NIAID选中,预计将于2024年开始临床试验。截至2024年6月30日,Ocugen拥有1600万美元的现金及现金等价物。该公司预计当前的所有基金类型将支持其运营至2025年第三季度,但指出在一年内继续作为一个持续经营实体的能力存在重大怀疑。管理层正在评估获取未来运营额外资金的策略。
Ocugen报告了2024年第二季度的财务结果,营业收入从2023年第二季度的485,000美元增加到114万美元。净亏损由去年的2307万美元缩小至1528万美元。研发费用减少了567万美元,降至890万美元,这主要是由于COVAXIN项目的终止。该公司强调了其产品线的进展,包括在2024年6月对OCU400进行视网膜色素变性第三阶段试验的首位患者进行给药。Ocugen还在地理性萎缩和Stargardt病试验中完成了OCU410和OCU410St的高剂量组。吸入式COVID-19生物-疫苗候选药物OCU500被NIAID选中,预计将于2024年开始临床试验。截至2024年6月30日,Ocugen拥有1600万美元的现金及现金等价物。该公司预计当前的所有基金类型将支持其运营至2025年第三季度,但指出在一年内继续作为一个持续经营实体的能力存在重大怀疑。管理层正在评估获取未来运营额外资金的策略。
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