Ocugen plunges after $115 million convertible bonds offering, bigger loss

Ocugen

05/05/2026 20:20

** Biotech firm Ocugen's OCGN.O shares plunge 19% to $1.50

** Announces pricing of $115 million worth of convertible bonds due 2034 in a private offering to institutional buyers

** Proceeds to be used to repay debt and for other purposes

** Separately, OCGN reported Q1 net loss of $19.2 million vs net loss of $15.4 million a year earlier

** OCGN has 338.5 million outstanding shares, according to LSEG data

** All seven brokerages covering the stock rate "buy" or higher; median PT $10 - data compiled by LSEG

** As of last close, OCGN stock up 37% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))