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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