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Ocugen | 10-Q: Q3 2024 Earnings Report

Ocugen | 10-Q: Q3 2024 Earnings Report

Ocugen | 10-Q：2024财年三季报
美股SEC公告 ·  2024/11/14 12:32

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Ocugen reported Q3 2024 revenue of $1.1 million, down 69% from $3.7 million in Q3 2023, with a net loss of $13.0 million compared to $11.7 million last year. Research and development expenses increased 15% to $8.1 million, while general and administrative costs decreased 31% to $6.3 million. The company ended the quarter with $38.7 million in cash.The company made significant progress on its gene therapy pipeline, with OCU400 now in Phase 3 trials for retinitis pigmentosa and receiving expanded access program approval from FDA. OCU410 is advancing in Phase 2 trials for age-related macular degeneration, while OCU410ST completed Phase 1 for Stargardt disease. The FDA also lifted the clinical hold on OCU200's IND application.Subsequent to quarter end, Ocugen secured $29.2 million in debt financing from Avenue Capital to support ongoing development programs. However, management indicated current cash levels are insufficient to fund operations for the next 12 months, raising substantial doubt about the company's ability to continue as a going concern without raising significant additional capital.
Ocugen reported Q3 2024 revenue of $1.1 million, down 69% from $3.7 million in Q3 2023, with a net loss of $13.0 million compared to $11.7 million last year. Research and development expenses increased 15% to $8.1 million, while general and administrative costs decreased 31% to $6.3 million. The company ended the quarter with $38.7 million in cash.The company made significant progress on its gene therapy pipeline, with OCU400 now in Phase 3 trials for retinitis pigmentosa and receiving expanded access program approval from FDA. OCU410 is advancing in Phase 2 trials for age-related macular degeneration, while OCU410ST completed Phase 1 for Stargardt disease. The FDA also lifted the clinical hold on OCU200's IND application.Subsequent to quarter end, Ocugen secured $29.2 million in debt financing from Avenue Capital to support ongoing development programs. However, management indicated current cash levels are insufficient to fund operations for the next 12 months, raising substantial doubt about the company's ability to continue as a going concern without raising significant additional capital.
Ocugen报告2024年第三季度营业收入为110万美元，比2023年第三季度的370万美元下降了69%，净亏损为1300万美元，而去年为1170万美元。研发费用增加了15%，达到810万美元，而管理费用下降了31%，为630万美元。公司在季度末现金余额为3870万美元。该公司在基因治疗管线方面取得了重大进展，OCU400目前正在进行视网膜色素变性治疗的三期试验，并获得FDA的扩展接入程序批准。OCU410在治疗年龄相关性黄斑变性的二期试验中取得进展，而OCU410St完成了针对斯塔加特病的一期试验。FDA还解除对OCU200的IND申请的临床持有。在季度结束后，Ocugen从Avenue Capital获得了2920万美元的债务融资，以支持正在进行的开发项目。然而，管理层表示目前的现金水平不足以支持未来12个月的运营，给公司是否能够在没有大规模额外资本的情况下继续经营带来了重大疑虑。
Ocugen报告2024年第三季度营业收入为110万美元，比2023年第三季度的370万美元下降了69%，净亏损为1300万美元，而去年为1170万美元。研发费用增加了15%，达到810万美元，而管理费用下降了31%，为630万美元。公司在季度末现金余额为3870万美元。该公司在基因治疗管线方面取得了重大进展，OCU400目前正在进行视网膜色素变性治疗的三期试验，并获得FDA的扩展接入程序批准。OCU410在治疗年龄相关性黄斑变性的二期试验中取得进展，而OCU410St完成了针对斯塔加特病的一期试验。FDA还解除对OCU200的IND申请的临床持有。在季度结束后，Ocugen从Avenue Capital获得了2920万美元的债务融资，以支持正在进行的开发项目。然而，管理层表示目前的现金水平不足以支持未来12个月的运营，给公司是否能够在没有大规模额外资本的情况下继续经营带来了重大疑虑。
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