Movers and SHAKERS
Ocugen Reports 3Q21 and Reviews Recent Progress
Ocugen Inc is a clinical stage biopharmaceutical company. It is focused on discovering, developing and commercializing a pipeline of innovative therapies that address rare and underserved eye diseases. Ocugen offers a diversified ophthalmology portfolio that includes novel gene therapies, biologics, and small molecules and targets a broad range of high-need retinal and ocular surface diseases.
Robert LeBoyer, Senior Research Analyst, Noble Capital Markets, Inc.
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Financial Results For 3Q21 Within Expectations Ocugen reported 3Q21 financial results of a loss of $10.8 million or $(0.05) per share, compared with our estimated loss of $8.8 million or $(0.04) per share. The difference was largely due to higher R&D spending related to regulatory expenses and the start of the Covaxin immune-bridging study. The company ended the quarter with $107.3 million in cash.
Covaxin Continues Making Progress Toward Approval The company held a conference call in which it reviewed progress during the quarter, including an FDA application for Emergency Use Authorization in children ages 2 to 18. The approval process in Canada is proceeding as expected. We continue to expect product approval during 2022 in Canada and 2023 in the US ...
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.