Summary by Moomoo AI
Ocugen announced Q3 2024 financial results and provided updates on its gene therapy programs. The company closed $30M in debt financing post-quarter, extending cash runway into Q1 2026. OCU400's Phase 3 trial for retinitis pigmentosa is on track to complete enrollment in 1H 2025, with expansion into Canada approved.OCU410 has entered Phase 2 of its Phase 1/2 trial for geographic atrophy, while OCU410ST received DSMB approval to proceed to Phase 2 for Stargardt disease. Ocugen will present new data from these trials at an upcoming clinical showcase. The company's cash totaled $39M as of September 30, 2024.Q3 operating expenses were $14.4M, including $8.1M for R&D and $6.3M for G&A, compared to $16.1M in Q3 2023. Ocugen emphasized its focus on modifier gene therapies targeting multiple disease mutations with a single treatment, differentiating it from competitors in the blindness disease space.
