The earnings call highlighted significant progress in Ocugen's gene therapy programs, with promising clinical trial results and regulatory advancements. However, increased R&D expenses and a higher net loss indicate financial challenges. Despite these concerns, the overall sentiment leans towards optimism due to the promising pipeline and strategic planning.

Company Guidance

During the call, Ocugen provided guidance on several key metrics and timelines for its gene therapy programs. The company is on track to file three biologics license applications (BLAs) or market authorization applications (MAAs) within the next three years. Specifically, for OCU400, they plan a BLA submission in 2027, and a Phase 3 study will enroll 150 participants divided into two study counts. The company expects to initiate a Phase 3 trial for OCU410 in 2026 with a BLA submission planned for 2028. Ocugen reported research and development expenses of $9.5 million for the quarter ended March 31, 2025, compared to $6.8 million in the same period in 2024. General and administrative expenses were $6.5 million, with a net loss of $15.3 million or $0.05 per share. Cash and restricted cash totaled $38.1 million as of March 31, 2025, providing a runway into the first quarter of 2026.

Advancement of Modifier Gene Therapy Platform

Ocugen is on track to file three Biologics License Applications (BLA) or Market Authorization Applications (MAA) in the next three years for its modifier gene therapy platform, targeting retinal diseases.

Positive Clinical Data for OCU400

Two-year safety and efficacy data from the Phase 1/2 OCU400 clinical trial showed a statistically significant improvement in visual function with a p-value of 0.005, indicating potential to treat approximately 300,000 RP patients in the US and EU and 1.6 million globally.

EMA's MAA Submission Eligibility for OCU400

EMA granted eligibility to submit OCU400 MAA via centralized procedure as an ATMP, signifying recognition of its potential to address unmet medical needs in Europe.

Initiation of OCU410 Phase 3 Trials

Dosing was completed ahead of schedule in the OCU410 Phase 1/2 trial for geographic atrophy, with Phase 3 trials set to begin in 2026, aiming for a BLA submission in 2028.

OCU410ST Progress

Significant improvements were shown in the Phase 1 GUARDIAN trial, and the FDA approved a Phase 2/3 trial for Stargardt disease.

Financial Stability and Strategy

Cash runway is expected to extend into the first quarter of 2026, with ongoing exploration of strategic opportunities to increase working capital.

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Ocugen (OCGN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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OCGN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 01, 2025	2025 (Q2)	-0.06 / -	-0.04	―	―	―
May 09, 2025	2025 (Q1)	-0.06 / -0.05	-0.05	0.00% (0.00)	―
Mar 05, 2025	2024 (Q4)	-0.05 / -0.05	-0.03	-66.67% (-0.02)	―
Nov 08, 2024	2024 (Q3)	-0.06 / -0.05	-0.06	16.67% (<+0.01)
Aug 08, 2024	2024 (Q2)	-0.05 / -0.04	-0.1	60.00% (+0.06)	―
May 14, 2024	2024 (Q1)	- / -0.07	-0.07	7.14% (<+0.01)	―
Apr 02, 2024	2023 (Q4)	-0.06 / -0.05	-0.07	28.57% (+0.02)	―	―
Nov 09, 2023	2023 (Q3)	-0.07 / -0.06	-0.1	40.00% (+0.04)	―
Aug 21, 2023	2023 (Q2)	-0.07 / -0.10	-0.09	-11.11% (-0.01)	―
May 05, 2023	2023 (Q1)	-0.11 / -0.07	-0.09	22.22% (+0.02)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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OCGN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 09, 2025	$0.69	$0.67	-2.90%
Mar 05, 2025	$0.59	$0.57	-3.39%
Nov 08, 2024	$1.08	$0.99	-8.33%
Aug 08, 2024	$1.18	$1.28	+8.47%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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