The following is a summary of the Ocugen, Inc. (OCGN) Q1 2024 Earnings Call Transcript:
Financial Performance:
Ocugen's R&D expenses for Q1 2024 were $6.8 million, a decrease compared to $10.2 million in Q1 2023.
General and administrative expenses were $6.4 million, a reduction from $8.3 million during the same period in 2023.
The company reported a net loss of approximately $11.9 million or $0.05 net loss per share for Q1 2024 as opposed to a net loss of approximately $17.3 million, or $0.08 net loss per share for Q1 2023.
Cash and cash equivalents were totaled at $26.4 million as of March 31, 2024, a decline from $39.5 million as of December 31, 2023.
Business Progress:
Ocugen's IND application for late-stage clinical trials of OCU400 has gained clearances from both the FDA and EMA.
Clinical trials for OCU410 and OCU410ST are currently in Phase 1/2 targeting geographic atrophy secondary to dry age-related macular degeneration and Stargardt disease, with updates expected in Q3 2024.
Completed improvements to its manufacturing facility to potentially support the production of Phase 3 clinical material for their NeoCart autologous cell therapy.
The company plans a Phase 3 expansion trial for OCU400, involving patients with Leber Congenital Amaurosis later in 2024.
Initial insights into the safety and effectiveness of OCU410 for the treatment of geographic atrophy, secondary to dry age-related macular degeneration and Stargardt disease, are expected in Q3 2024.
More details: Ocugen IR
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