Ocugen Provides Business Update with Second Quarter 2025 Financial Results

Core Viewpoint - Ocugen, Inc. is advancing its gene therapy programs for blindness diseases, with significant clinical trial progress and strategic partnerships aimed at supporting future Biologics License Application (BLA) filings [2][11]. Business Development - The company is focused on securing strategic partnerships, including a licensing agreement for OCU400 in Korea, which includes sales milestones of $1 million for every $15 million in net sales and a 25% royalty on net sales [3]. - A proposed reverse merger with OrthoCellix and Carisma Therapeutics aims to create a Nasdaq-listed regenerative cell therapy company, enhancing focus on orthopedic diseases and the NeoCart technology [2]. Clinical Trials and Designations - The FDA has granted Rare Pediatric Disease Designation (RPDD) to OCU410ST for Stargardt disease, highlighting the unmet medical need for this condition affecting approximately 100,000 people in the U.S. and Europe [4]. - The OCU410ST Phase 2/3 GARDian3 clinical trial has commenced, building on positive results from the Phase 1 trial, which showed a 48% slower lesion growth in treated eyes [5]. - Preliminary data from the OCU410 Phase 1 ArMaDa trial indicated a 23% slower geographic atrophy lesion growth and a 2-line/10-letter gain in visual acuity [6]. Financial Performance - As of June 30, 2025, the company reported cash and cash equivalents of $27.3 million, down from $58.8 million at the end of 2024, providing a cash runway into the first quarter of 2026 [16]. - Total operating expenses for Q2 2025 were $15.2 million, a decrease from $16.6 million in Q2 2024, with research and development expenses at $8.4 million [16][25]. - The company reported a net loss of $0.05 per common share for Q2 2025, compared to a net loss of $0.06 per common share in the same period of 2024 [16][26].