Ocugen reported Q3 2024 revenue of $1.1 million, down 69% from $3.7 million in Q3 2023, with a net loss of $13.0 million compared to $11.7 million last year. Research and development expenses increased 15% to $8.1 million, while general and administrative costs decreased 31% to $6.3 million. The company ended the quarter with $38.7 million in cash.The company made significant progress on its gene therapy pipeline, with OCU400 now in Phase 3 trials for retinitis pigmentosa and receiving expanded access program approval from FDA. OCU410 is advancing in Phase 2 trials for age-related macular degeneration, while OCU410ST completed Phase 1 for Stargardt disease. The FDA also lifted the clinical hold on OCU200's IND application.Subsequent to quarter end, Ocugen secured $29.2 million in debt financing from Avenue Capital to support ongoing development programs. However, management indicated current cash levels are insufficient to fund operations for the next 12 months, raising substantial doubt about the company's ability to continue as a going concern without raising significant additional capital.

Ocugen reported Q3 2024 revenue of $1.1 million, down 69% from $3.7 million in Q3 2023, with a net loss of $13.0 million compared to $11.7 million last year. Research and development expenses increased 15% to $8.1 million, while general and administrative costs decreased 31% to $6.3 million. The company ended the quarter with $38.7 million in cash.The company made significant progress on its gene therapy pipeline, with OCU400 now in Phase 3 trials for retinitis pigmentosa and receiving expanded access program approval from FDA. OCU410 is advancing in Phase 2 trials for age-related macular degeneration, while OCU410ST completed Phase 1 for Stargardt disease. The FDA also lifted the clinical hold on OCU200's IND application.Subsequent to quarter end, Ocugen secured $29.2 million in debt financing from Avenue Capital to support ongoing development programs. However, management indicated current cash levels are insufficient to fund operations for the next 12 months, raising substantial doubt about the company's ability to continue as a going concern without raising significant additional capital.