Ocugen Q2 revenue beats estimates
Ocugen Q2 revenue beats estimates
Overview
US gene therapy firm's Q2 revenue rose and beat analyst expectations
Net loss per share widened to $0.07 from $0.05 yr/yr
Company closed $130 mln convertible notes financing, extending cash runway into 2028
Outlook
Company on track to initiate OCU410 Phase 3 trial for geographic atrophy this quarter
Top-line results for OCU400 and OCU410ST expected in 1Q and 2Q 2027, respectively
Company targets BLA and MAA filings for OCU410 in 2028
Result Drivers
HIGHER R&D SPENDING - Increased research and development expenses as late-stage clinical programs advanced
PIPELINE PROGRESS - Advanced clinical programs, including FDA clearance for OCU410 Phase 3 trial and completion of OCU400 PPQ batches
FINANCING ACTIVITIES - Closed $130 mln convertible notes financing, retired higher-interest debt, and extended cash runway into 2028
Company press release: ID:nGNX33vdVX
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $1.49 mln | $888,830 (6 Analysts) |
Q2 Loss Per Share |
| $0.07 |
|
Q2 Net Loss |
| $24.88 mln |
|
Q2 Operating Expenses |
| $17.93 mln |
|
Q2 Profit From Operations |
| -$16.44 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Ocugen, Inc. is $10.50, about 720.3% above its August 5 closing price of $1.28
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)