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Ocugen (OCGN) – First Quarter Reported With Gene Therapy Programs Making Progress

Health
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Monday, May 09, 2022

Ocugen (OCGN)
First Quarter Reported With Gene Therapy Programs Making Progress

Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene therapies, biologicals and vaccines that improve health and offer hope for people and global communities. We are making an impact through courageous innovation, taking science in new directions in service of patients. Our breakthrough modifier gene therapy platform has the potential to treat multiple diseases with one drug and we are advancing research in other therapeutic areas to offer new options for people with unmet medical needs.

Robert LeBoyer, Vice President, Research Analyst, Life Sciences , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Ocugen Reports 1Q22 Within Expectations.   Ocugen reported a loss of $18.0 million or $(0.09) per share, larger than our expected loss of $15.8 million or $(0.06) per share.  During the quarter, the company continued to work with US and Canadian regulators toward Covaxin approval.  The Phase 1/2 OCU400 gene therapy trial continues to enroll patients.  Cash balance at the end of 1Q was $129.9 million.

Ocugen Continues To Work Toward Covaxin Approval.  The US bioequivalence Phase 2/3 immuno-bridging study stopped new enrollment due to undisclosed issues at Bharat Biotech’s manufacturing plant.  As these issues are being addressed, the company continues to speak with the FDA to lift the clinical hold and to determine requirements for the BLA submission….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

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