Ocugen, Inc. (OCGN)
Ocugen, Inc. is a biopharmaceutical company in the clinical development phase, primarily dedicated to pioneering gene therapies aimed at treating various ophthalmic conditions leading to blindness. The company's developmental pipeline features several key candidates: OCU400: An innovative gene therapy designed to reinstate both the function and structural integrity of the retina across a broad spectrum of genetically diverse inherited retinal diseases, such as retinitis pigmentosa and Leber congenital amaurosis. OCU410: Another gene therapy candidate, currently being developed to address dry age-related macular degeneration (AMD). OCU200: A novel fusion protein, presently undergoing preclinical evaluation for its potential in treating diabetic macular edema, diabetic retinopathy, and wet AMD. Ocugen maintains significant strategic collaborations, including a partnership with CanSino Biologics Inc. for the joint development and manufacturing of gene therapies, and an alliance with Bharat Biotech for the commercialization of COVAXIN within the United States market. The company's corporate headquarters are situated in Malvern, Pennsylvania.
Sector: Biological Products, (No Diagnostic Substances)
Industry: Biotechnology
Ocugen, Inc.
NASDAQ:OCGNHealthcare · Biotechnology
-5.58%$0.7027
AH$0.7192+2.35%vs close
Mkt Cap$238.29M
Float331.4M
O/S339.11M
Vol
$ Vol
RVOL
Inst Own43.0%
SI32.3%
Earnings
Dilution
Financials Summary
Revenue$4.41M
Net Income-$67.85M
Total Assets$43.52M
Free Cash Flow-$57.15M
Debt & Equity
Debt 158%
Total Debt$33.14M
Total Equity-$12.17M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in OCGN's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$43.52M
Liabilities$55.68M
Accounts Receivable$0
Accounts Payable$6.2M
Inventory$0
PP&E (Net)$14.39M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Revenue | $4.41M | $4.05M | $6.04M | $2.49M | $0 | $43K | $0 | $0 | $0 | $0 | $0 | $0 | $8K | $26K |
| YoY Growth | 8.8% | -32.8% | 142.6% | - | - | - | - | - | - | - | - | - | -69.2% | - |
| Cost of Revenue | $2.39M | $1.97M | $704K | $0 | $0 | $6.35M | $8.09M | $50K | $1.53M | $1.67M | $1.61M | $0 | $0 | $0 |
| Gross Profit | $2.02M | $2.09M | $5.33M | $2.49M | $0 | -$6.31M | -$8.09M | -$50K | -$1.53M | -$1.67M | -$1.61M | $0 | $8K | $26K |
| Gross Margin | 45.9% | 51.5% | 88.3% | 100.0% | - | -14676.7% | - | - | - | - | - | - | 100.0% | 100.0% |
| Research and Development | $39.75M | $32.13M | $39.57M | $56.16M | $35.11M | $13.35M | $8.09M | $15.63M | $15.57M | $21.58M | $23.24M | $25.86M | $11.95M | $11.94M |
| Selling, General, and Administrative | $27.58M | $26.69M | $31.99M | $35.4M | $22.92M | $7.97M | $6.08M | $10.2M | $9.38M | $8.53M | $8.27M | $6.75M | $4.85M | $3.05M |
| Other | -$2.39M | -$1.97M | -$704K | $0 | $0 | -$6.35M | -$8.09M | $0 | -$116K | -$248K | -$72K | $13K | -$52K | -$30K |
| Total Operating Expenses | $64.94M | $56.84M | $70.86M | $91.56M | $58.03M | $14.97M | $6.08M | $25.84M | $24.95M | $30.11M | $31.51M | $32.6M | $16.79M | $14.99M |
| Operating Income (EBIT) | -$62.92M | -$54.76M | -$65.53M | -$89.07M | -$58.03M | -$21.29M | -$14.16M | -$30.11M | -$24.95M | -$30.31M | -$31.82M | -$32.66M | -$16.84M | -$14.97M |
| Operating Margin | -1425.7% | -1350.4% | -1085.7% | -3580.0% | - | -49500.0% | - | - | - | - | - | - | -210562.5% | -57569.2% |
| Interest Expense | $5.19M | $0 | $0 | $0 | $79K | $721K | $1.77M | $163K | $134K | -$60K | -$133K | -$151K | $0 | $798K |
| Interest Income | $922K | $1.3M | $2.5M | $1.4M | $0 | $1K | $1K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$4.93M | $703K | $2.45M | $2.27M | -$389K | -$537K | -$6.08M | $11.89M | -$1.46M | $14.1M | -$205K | $9.87M | -$8.87M | -$1.97M |
| Income Before Tax (EBT) | -$67.85M | -$54.05M | -$63.08M | -$86.8M | -$58.42M | -$21.82M | -$20.24M | -$8.64M | -$26.41M | -$16.21M | -$32.02M | -$22.79M | -$25.71M | -$16.93M |
| Income Tax Expense | $0 | $0 | $0 | $0 | -$52K | $0 | $0 | -$15.76M | -$186K | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$67.85M | -$54.05M | -$63.08M | -$86.8M | -$58.37M | -$21.82M | -$20.24M | -$8.64M | -$26.41M | -$16.21M | -$32.02M | -$22.79M | -$25.71M | -$16.93M |
| Net Income Margin | -1537.4% | -1333.0% | -1045.0% | -3488.9% | - | -50748.8% | - | - | - | - | - | - | -321400.0% | -65134.6% |
| Supplementary Data | ||||||||||||||
| EPS | -0.23 | -0.20 | -0.26 | -0.40 | -0.30 | -0.31 | -1.53 | -13.98 | -69.91 | -68.21 | -145.22 | -891.47 | -120.93 | -79.65 |
| Diluted EPS | -0.23 | -0.20 | -0.26 | -0.40 | -0.30 | -0.31 | -1.53 | -13.98 | -69.91 | -67.58 | -145.22 | -891.47 | -120.93 | -79.65 |
| Weighted Average OS | 300.17M | 271.00M | 244.33M | 214.60M | 195.01M | 112.24M | 13.89M | 618,182 | 377,830 | 237,620 | 220,518 | 25,568 | 212,617 | 212,617 |
| EBITDA | -$60.27M | -$52.09M | -$62.37M | -$86.32M | -$58.11M | -$14.18M | -$14.1M | -$14.42M | -$24.88M | -$11.38M | -$30.28M | -$21.92M | -$16.22M | -$14.33M |
| EBITDA Margin | -1365.7% | -1284.5% | -1033.4% | -3469.6% | - | -32983.7% | - | - | - | - | - | - | -202737.5% | -55115.4% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Assets | ||||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $18.57M | $58.51M | $39.46M | $77.56M | $94.96M | $24.04M | $7.44M | $15.54M | $7.08M | $31.91M | $30.91M | $58.06M | $8.73M | $14.72M |
| Short-Term Investments | $0 | $0 | $0 | $13.37M | $0 | $0 | $0 | $0 | $900K | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $18.57M | $58.51M | $39.46M | $90.93M | $94.96M | $24.04M | $7.44M | $15.54M | $7.98M | $31.91M | $30.91M | $58.06M | $8.73M | $14.72M |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $5.77M | $3.17M | $3.51M | $7.56M | $0 | $0 | $7M | $172K | $122K | $78K | $279K | $729K | $1.13M | $340K |
| Total Current Assets | $24.34M | $61.68M | $42.97M | $98.49M | $102.65M | $25.88M | $15.77M | $16.4M | $8.18M | $32.08M | $31.24M | $58.86M | $10.35M | $15.08M |
| Long-Term Assets | ||||||||||||||
| Property, Plant & Equipment Net | $14.39M | $16.55M | $17.29M | $6.05M | $1.16M | $633K | $222K | $141K | $2.72M | $3.86M | $5.21M | $4.88M | $2.28M | $2.31M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $200K | $510K | $570K | $630K |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $151K | $150K | $137K | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $651K | $1.06M | $2.48M |
| Other Long-Term Assets | $4.78M | $4.21M | $4.29M | $4.09M | $1.95M | $865K | $668K | $737K | $0 | $137K | $137K | $604K | $539K | $540K |
| Total Long-Term Assets | $19.18M | $20.76M | $21.58M | $10.14M | $3.12M | $1.5M | $1.04M | $1.03M | $2.86M | $4M | $5.55M | $6.64M | $4.45M | $5.96M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $43.52M | $82.44M | $64.55M | $108.63M | $105.76M | $27.38M | $16.81M | $17.43M | $11.04M | $36.08M | $36.79M | $65.5M | $14.8M | $21.04M |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $6.2M | $4.24M | $3.17M | $8.06M | $2.31M | $395K | $1.9M | $1.59M | $776K | $1.95M | $2.25M | $4.89M | $2.53M | $1.04M |
| Short-Term Debt | $1.25M | $1.33M | $0 | $0 | $0 | $234K | $0 | $0 | $178K | $583K | $583K | $405K | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $5.91M | $8.37M | $10.53M | $11.22M | $0 | $0 | $2.27M | $10M | $2.02M | $2.13M | $2.98M | $2.83M | $0 | $0 |
| Other Current Liabilities | $6.69M | $5.25M | $1.03M | $3.11M | $1.72M | $1.68M | -$2.06M | $948K | $1.18M | $1.24M | $2.77M | $2.22M | $1.69M | $1.14M |
| Total Current Liabilities | $23.04M | $21.59M | $17.09M | $28.53M | $7M | $3.61M | $4.54M | $2.87M | $3.81M | $5.17M | $6.36M | $8.25M | $5.09M | $4.4M |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $27.54M | $27.34M | $2.8M | $2.29M | $1.71M | $1.82M | $1.07M | $1.02M | $0 | $178K | $761K | $1.34M | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | -$918K | $0 | $0 | $0 | $0 | $10M | $0 | $0 | $0 | -$2M | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $918K | $0 | $0 | $0 | $0 | -$1.02M | $0 | $0 | $0 | $651K | $0 | $0 |
| Other Long-Term Liabilities | $1.6M | $564K | $527K | $244K | $0 | $0 | $10K | $4M | $18.5M | $17.16M | $1.47M | $1.05M | $85.26M | $36.35M |
| Total Long-Term Liabilities | $32.64M | $31.22M | $6.89M | $6.12M | $2.94M | $2.21M | $1.25M | $15.01M | $18.5M | $17.34M | $2.23M | $3.04M | $85.26M | $36.35M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $55.68M | $52.81M | $23.98M | $34.65M | $9.94M | $5.83M | $5.79M | $17.89M | $22.3M | $22.51M | $8.59M | $11.29M | $90.35M | $40.76M |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $0 | $0 | $1K | $1K | $1K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $3.13M | $2.92M | $2.57M | $2.22M | $2M | $1.84M | $527K | $513K | $159K | $159K | $132K | $127K | $6K | $6K |
| Retained Earnings | -$408.07M | -$340.22M | -$286.17M | -$223.09M | -$131.67M | -$73.3M | -$51.48M | -$216.83M | -$208.19M | -$181.77M | -$165.56M | -$133.54M | -$110.75M | -$85.04M |
| Comprehensive Income & Other | $61K | $48K | $20K | $26K | -$0 | $0 | $0 | -$10.29M | -$10.92M | -$9.39M | -$7.99M | -$6.38M | -$5.65M | -$5.15M |
| Other Stockholders' Equity | $392.78M | $366.94M | $324.16M | $294.85M | $225.49M | $93.01M | $61.97M | $215.86M | $196.76M | $195.18M | $193.63M | $187.62M | $35.19M | $65.32M |
| Total Equity | -$12.17M | $29.63M | $40.56M | $73.98M | $95.82M | $21.55M | $11.02M | -$458K | -$11.27M | $13.57M | $28.2M | $54.21M | -$75.55M | -$19.71M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $43.52M | $82.44M | $64.55M | $108.63M | $105.76M | $27.38M | $16.81M | $17.43M | $11.04M | $36.08M | $36.79M | $65.5M | $14.8M | $21.04M |
| Supplementary Data | ||||||||||||||
| Total Debt | $33.14M | $32.5M | $6.94M | $6.37M | $3.31M | $2.49M | $1.41M | $238K | $178K | $761K | $1.34M | $1.75M | $0 | $0 |
| Net Debt | $14.57M | -$26.01M | -$32.52M | -$71.19M | -$91.65M | -$21.55M | -$6.04M | -$15.3M | -$6.9M | -$31.15M | -$29.57M | -$56.31M | -$8.73M | -$14.72M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Operating Activities | ||||||||||||||
| Net Income | -$67.85M | -$54.05M | -$63.08M | -$86.8M | -$58.37M | -$21.82M | -$20.24M | -$8.64M | -$26.41M | -$16.21M | -$32.02M | -$22.79M | -$25.71M | -$16.93M |
| Depreciation & Amortization | $2.39M | $1.97M | $704K | $480K | $229K | $102K | $61K | $50K | $1.53M | $1.67M | $1.61M | $726K | $566K | $638K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | -$52K | $0 | $3.19M | -$17.14M | $1.54M | -$14.21M | $321K | $60K | $80K | $2.43M |
| Stock-Based Compensation | $7.71M | $7.43M | $9.22M | $10.54M | $6.96M | $660K | $884K | $1.63M | $1.57M | $1.55M | $1.23M | $547K | $158K | $14K |
| Changes in Working Capital: | ||||||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $3.5M | -$540.85M | -$1.63B | -$375K | -$1.21M | -$304K | -$2.63M | $2.03M | $804K | -$228K |
| Other Working Capital | -$523K | $3.67M | -$13.16M | $9.2M | -$1.01M | $539.64M | $1.63B | -$2.43M | $503K | $2.29M | $1.78M | $357K | $462K | $276K |
| Total Working Capital Change | -$523K | $3.67M | -$13.16M | $9.2M | $2.49M | -$1.21M | -$3.11M | -$2.81M | -$706K | $1.99M | -$851K | $2.38M | $1.27M | $48K |
| Other Non-Cash Items | $1.31M | -$1.15M | $4.26M | $6.51M | $799K | $7.56M | $2.33M | $11.13M | -$543K | -$533K | -$322K | $672K | $8.36M | $1.57M |
| Net Cash from Operating | -$56.96M | -$42.14M | -$62.05M | -$60.08M | -$47.94M | -$14.71M | -$16.89M | -$15.78M | -$23.02M | -$25.74M | -$30.03M | -$18.41M | -$15.28M | -$12.23M |
| Investing Activities | ||||||||||||||
| Capital Expenditures | -$185K | -$3.38M | -$10.48M | -$4.46M | -$939K | -$307K | -$29K | -$2.01M | -$276K | -$320K | -$1.95M | -$3.32M | -$604K | -$79K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | -$2.33M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | -$3.95M | -$13.27M | $0 | $0 | $0 | $0 | -$8M | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $17.5M | $0 | $0 | $0 | $0 | $900K | $7.05M | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$126K | $0 | $0 | $761K | -$877K | $0 | -$273 | $0 | $0 | $0 | $0 | $0 | $50K | $0 |
| Net Cash from Investing | -$311K | -$3.38M | $3.08M | -$16.97M | -$1.82M | -$307K | -$2.36M | -$1.11M | -$1.23M | -$320K | -$1.95M | -$3.32M | -$554K | -$79K |
| Financing Activities | ||||||||||||||
| Debt Repaid | $1M | -$30M | -$500K | -$500K | $10K | $4.73M | -$1.48M | $178K | $583K | $583K | $406K | -$1.75M | - | -$6.01M |
| Common Stock Issuance | $18.33M | $38.56M | $20.8M | $59.57M | $129.21M | $37.82M | $1.18M | $25.53M | $6K | $27.63M | $4.74M | $60.45M | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | -$48K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | -$3.7M | -$68K | -$592K | -$8.53M | -$1.48M | $0 | $3K | $6K | $2K | $39K | -$1.46M | -$407K | $0 |
| Net Cash from Financing | $17.33M | $64.86M | $20.88M | $59.48M | $120.68M | $31.61M | $25.07M | $25.35M | -$577K | $27.05M | $4.37M | $71.05M | $9.85M | $26.69M |
| Forex Effect | $13K | $28K | -$5K | $25K | -$325 | $0 | $0 | $451 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$39.93M | $19.36M | -$38.1M | -$17.55M | $70.92M | $16.6M | $5.82M | $8.46M | -$24.83M | $993K | -$27.61M | $49.33M | -$5.98M | $14.38M |
| Supplementary Data | ||||||||||||||
| Operating Cash Flow | -$56.96M | -$42.14M | -$62.05M | -$60.08M | -$47.94M | -$14.71M | -$16.89M | -$15.78M | -$23.02M | -$25.74M | -$30.03M | -$18.41M | -$15.28M | -$12.23M |
| Capital Expenditure | -$185K | -$3.38M | -$10.48M | -$4.46M | -$939K | -$307K | -$29K | -$2.01M | -$276K | -$320K | -$1.95M | -$3.32M | -$604K | -$79K |
| Free Cash Flow | -$57.15M | -$45.53M | -$72.53M | -$64.54M | -$48.88M | -$15.02M | -$16.92M | -$17.79M | -$23.3M | -$26.06M | -$31.98M | -$21.73M | -$15.89M | -$12.31M |
| Cash at Beginning | $58.82M | $39.46M | $77.56M | $95.11M | $24.19M | $7.6M | $1.78M | $7.22M | $31.91M | $30.91M | $58.53M | $8.73M | $14.72M | $339K |
| Cash at End | $18.89M | $58.82M | $39.46M | $77.56M | $95.11M | $24.19M | $7.6M | $15.68M | $7.08M | $31.91M | $30.91M | $58.06M | $8.73M | $14.72M |