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Ocugen | 10-Q: Q2 2024 Earnings Report

Ocugen | 10-Q: Q2 2024 Earnings Report

Ocugen | 10-Q:2024財年二季報
美股SEC公告 ·  2024/08/08 19:11

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Ocugen reported Q2 2024 financial results with revenue increasing 135% year-over-year to $1.1 million, while net loss narrowed to $15.3 million from $23.1 million in Q2 2023. Operating expenses decreased significantly to $16.6 million from $24.0 million, driven by reduced research and development costs following COVAXIN program termination.The company made significant progress in its gene therapy pipeline, with OCU400 entering Phase 3 trials for retinitis pigmentosa and dosing its first patient in June 2024. Both OCU410 for geographic atrophy and OCU410ST for Stargardt disease advanced in Phase 1/2 trials, completing multiple dose cohorts. The EMA provided positive feedback on OCU400's Phase 3 trial design for potential MAA submission.As of June 30, 2024, Ocugen had $16.0 million in cash and cash equivalents. The company subsequently raised additional capital through a public offering of 30.4 million shares at $1.15 per share in July 2024, expecting to fund operations into Q3 2025. Management continues to explore various funding strategies to advance its pipeline development.
Ocugen reported Q2 2024 financial results with revenue increasing 135% year-over-year to $1.1 million, while net loss narrowed to $15.3 million from $23.1 million in Q2 2023. Operating expenses decreased significantly to $16.6 million from $24.0 million, driven by reduced research and development costs following COVAXIN program termination.The company made significant progress in its gene therapy pipeline, with OCU400 entering Phase 3 trials for retinitis pigmentosa and dosing its first patient in June 2024. Both OCU410 for geographic atrophy and OCU410ST for Stargardt disease advanced in Phase 1/2 trials, completing multiple dose cohorts. The EMA provided positive feedback on OCU400's Phase 3 trial design for potential MAA submission.As of June 30, 2024, Ocugen had $16.0 million in cash and cash equivalents. The company subsequently raised additional capital through a public offering of 30.4 million shares at $1.15 per share in July 2024, expecting to fund operations into Q3 2025. Management continues to explore various funding strategies to advance its pipeline development.
Ocugen發佈了2024年第二季度財務業績,營業收入同比增長135%,達到110萬美元,而淨虧損從2023年第二季度的2310萬美元縮減至1530萬美元。營業費用大幅下降,從2400萬美元降至1660萬美元,這主要是由於COVAXIN項目終止後研發成本的減少。公司在基因療法管線方面取得了重大進展,OCU400於2024年6月進入視網膜色素變性第三階段臨牀試驗,並對首位患者進行了給藥。OCU410用於地理性萎縮和OCU410ST用於斯塔加特病的第一/二階段臨牀試驗也取得了進展,完成了多個劑量隊列。歐洲藥品管理局對OCU400第三階段試驗設計提供了積極反饋,以支持潛在的市場授權申請。截至2024年6月30日,Ocugen擁有1600萬美元的現金及現金等價物。公司隨後通過在2024年7月以每股1.15美元公開發行3040萬股股票籌集了更多資金,預計可資助經營至2025年第三季度。管理層繼續探索各種融資策略,以推動其研發管線的發展。
Ocugen發佈了2024年第二季度財務業績,營業收入同比增長135%,達到110萬美元,而淨虧損從2023年第二季度的2310萬美元縮減至1530萬美元。營業費用大幅下降,從2400萬美元降至1660萬美元,這主要是由於COVAXIN項目終止後研發成本的減少。公司在基因療法管線方面取得了重大進展,OCU400於2024年6月進入視網膜色素變性第三階段臨牀試驗,並對首位患者進行了給藥。OCU410用於地理性萎縮和OCU410ST用於斯塔加特病的第一/二階段臨牀試驗也取得了進展,完成了多個劑量隊列。歐洲藥品管理局對OCU400第三階段試驗設計提供了積極反饋,以支持潛在的市場授權申請。截至2024年6月30日,Ocugen擁有1600萬美元的現金及現金等價物。公司隨後通過在2024年7月以每股1.15美元公開發行3040萬股股票籌集了更多資金,預計可資助經營至2025年第三季度。管理層繼續探索各種融資策略,以推動其研發管線的發展。
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