Ocugen, Inc. OCGN

1.02 0.02 2.00% as of 25 Sep
Market cap
$339.1M
P/E
0.0×
Insider Buys alert about insiders buying in the last 12 month

Insider Decisions

Total buys 0.03
Total sells 0.59
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — 1 — — —
Sell — — — — — — — — — — — 1
Insider Ownership 2.37%

Capital & Financial Ratios

Market Cap 339.11
Revenue 4.58
Net Income (81.81)
Free Cash Flow (61.02)
Net Debt (98.30)
Current Ratio 0.80
Debt/Equity (0.11)
P/E ratio 0.00
P/S ratio 75.43
P/B ratio 0.00
Past 5Y EPS Growth 32.82%
This Y EPS Growth (13.04%)
Next Y EPS Growth (7.69%)
Next 5Y EPS Growth 45.37%
in millions of $

Dividends

Payout Ratio 0.00
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 39 59 19 100
Receivables — — — —
Inventory — — — —
Other — — — —
43 62 24 107
2023 2024 2025 Q'26
Payables 3 4 6 5
ST’ Debt — 1 1 0
Other — — — 34
17 22 23 133
in millions of $

Compound Annual Growth

10y 5y 3y
Sales — — 21.05%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 0.00% 0.00%

Revenue

Mar Jun Sep Dec Year
’26 2 1 — — —
’25 1 1 2 — 4
’24 1 1 1 1 4
’23 0 0 4 1 6
’22 — — — — 2
in millions of $ · fiscal quarters ending in the months shown
value withheld pending a data check

Operating Cash Flow

Mar Jun Sep Dec Year
’26 (22) (12) — — —
’25 (19) (11) (13) (14) (57)
’24 (11) (10) (11) (10) (42)
’23 (18) (19) (14) (11) (62)
’22 (15) (14) (14) (17) (60)
’21 (5) (22) (8) (13) (48)
’20 (5) (3) (3) (4) (15)
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 (22) (12) — — —
’25 (19) (11) (13) (14) (57)
’24 (13) (10) (12) (10) (46)
’23 (20) (22) (17) (14) (73)
’22 (15) (15) (15) (19) (65)
’21 (6) (22) (8) (13) (49)
’20 (5) (3) (3) (5) (15)
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 (0.06) (0.07) — — —
’25 (0.05) (0.05) (0.07) (0.06) (0.23)
’24 (0.05) (0.06) (0.05) (0.05) (0.20)
’23 (0.07) (0.10) (0.05) (0.04) (0.26)
’22 (0.09) (0.09) (0.10) (0.10) (0.38)
’21 (0.04) (0.13) (0.05) (0.07) (0.30)
’20 (0.07) (0.19) (0.07) 0.00 (0.31)
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
83.40 87.00 4.80 0.24 0.17 1.40 1.09 0.35 0.49 0.52

Analyst estimates 2026–2028

Powerpack
Low Price
268.20 144.00 201.00 21.60 3.05 18.77 4.90 1.55 2.11 1.90
High Price
47 45 49 16 15 56 84 65 95 116
Employees
0 0 0 0 0 0 0 0 0 0
Revenue/Emp
— — — — 0 — 2 6 4 4
Revenue
— — — — 100.00% — 100.00% 100.00% 100.00% 100.00%
Gross Margin
(16) (26) (18) (20) (22) (58) (87) (63) (54) (68)
EBT
0.00% 0.00% 0.00% 0.00% (50,748.84%) 0.00% (3,488.91%) (1,045.03%) (1,333.02%) (1,537.41%)
EBT Margin
(16) (26) (18) (20) (22) (58) (87) (63) (54) (68)
Net Income
2 2 0 0 0 0 0 1 2 4
Depreciation
0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.02 0.02 0.01
Revenue/Sh
(58.08) (59.28) (3.67) (1.46) (0.31) (0.30) (0.38) (0.26) (0.20) (0.23)
Earnings/Sh
(108.09) (60.80) (2.34) (1.22) (0.13) (0.25) (0.28) (0.25) (0.16) (0.19)
Cash Flow/Sh
(1.34) (0.73) (0.02) 0.00 0.00 0.00 (0.02) (0.04) (0.01) 0.00
Capex/Sh
(109.43) (61.53) (2.36) (1.22) (0.13) (0.25) (0.30) (0.30) (0.17) (0.19)
Free CF/Sh
56.98 (29.76) (2.56) 0.79 0.19 0.49 0.34 0.17 0.11 (0.04)
Book Value/Sh
0 0 5 14 112 195 215 244 271 300
Shares
— — — — 0.00 — 0.00 0.00 0.00 0.00
PE Ratio
— — — — 0.00 — 0.00 26.72 54.13 91.83
PS Ratio
— — — — 9.53 — 3.63 3.98 7.41 0.00
PB Ratio
— — — — 0.00 — 0.00 20.85 46.77 94.14
EV/Sales
— — — — (12.21) — (2.79) (1.74) (4.17) (7.27)
EV/FCF
(26) (23) (12) (17) (15) (48) (60) (62) (42) (57)
Op' Cash Flow
0 0 0 0 0 (1) (4) (10) (3) 0
Capex
(26) (23) (12) (17) (15) (49) (65) (73) (46) (57)
FCF
27 4 (12) 11 22 96 70 26 40 1
Working Cap'
1 0 9 1 2 2 2 3 29 29
Total Debt
(31) (8) 7 (6) (22) (93) (89) (37) (30) 10
Net Debt
14 (11) (13) 11 22 96 74 41 30 (12)
Sh' Equity
(38.05%) (95.51%) (270.14%) (210.19%) (155.57%) (87.68%) (80.98%) (72.85%) (73.55%) (107.73%)
ROA
0.00% 0.00% 0.00% (183.70%) 0.00% (1,410.09%) 0.00% (1,049.64%) 0.00% 0.00%
ROIC
(66.39%) (1,957.29%) 151.97% 2,394.06% (211.05%) (99.46%) (102.24%) (110.14%) (154.01%) (776.89%)
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Ocugen, Inc. (OCGN) key facts

  • Ocugen, Inc. (OCGN) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
  • As of September 25, 2026, OCGN traded at $1.02, a market capitalization of $339.1 million.
  • Return on equity was −776.9% and debt-to-equity -0.11.

Source: company filings (standardised) and stockrow calculations.

Ocugen, Inc. (OCGN) Latest News

News by impact score

Fine-tune

25 Sep

4

Ocugen (OCGN) won provisional Bahamas approval and priority designation to deliver OCU400 through an expanded-access program, aiming to treat the first retinitis pigmentosa patient within 90 days pending full board approval. OCU400 is in Phase 3, with topline results expected Q1 2027 and a U.S. BLA submission targeted for Q2 2027. Ocugen is pursuing global commercialization, including a license to Kwangdong Pharmaceutical in South Korea and exclusive MENA negotiations; in Europe, OCU400 has orphan designation and is an Advanced Therapy Medicinal Product, while the UK remains investigational in Phase 3. The company also flags OCU410ST (Stargardt) in Phase 2/3 with topline Q2 2027 and OCU410 (dry AMD) in Phase 3 with potential 2028 filing. Cash runway through 2028, ending June with $100.1m; shares rose about 3%. Bahamas provisional approval and expanded-access plan could broaden global access and potentially accelerate near-term revenue opportunities ahead of U.S. approval.

3

Ocugen announced that its modifier gene therapy candidate OCU400 received provisional approval and LARTA Priority Designation in The Bahamas to treat retinitis pigmentosa (RP). Under an expanded access program, Ocugen aims to treat the first RP patient within 90 days after full LARTA approval and plans to price OCU400 at a cost-effective one-time treatment, addressing global access. OCU400 targets a broad RP population by resetting a disrupted retinal gene network centered on NR2E3 and is designed to work across more than 100 RP-causing genes. The therapy is in Phase 3, with topline data expected in Q1 2027 and a Biologics License Application submission planned for Q2 2027. OCU400 has U.S. RMAT designation and EMA ODD/OMPD; Ocugen frames this as a strategic step toward broader patient access and potential future growth, though full regulatory success remains uncertain. Provisional Bahamas approvals and expanded access could moderately influence near-term prospects and investor sentiment, contingent on later regulatory success.

16 Sep

4

Ocugen targets three gene therapy BLA filings as retinal pipeline advances. Multiple BLA filing targets mark major regulatory milestones that can reshape pipeline trajectory and investor outlook.

2 Sep

4

Ocugen advances gene therapy OCU410 into Phase III trials for geographic atrophy. Phase III start for lead gene therapy marks major clinical progress that can drive valuation and pipeline momentum.

1 Sep

4

Ocugen dosed the first patient in its Phase 3 registrational trial of OCU410 modifier gene therapy for geographic atrophy secondary to dry age-related macular degeneration. Phase 3 trial initiation for lead candidate OCU410 advances potential approval path in large dry AMD market.

15 Aug

4

Ocugen targets 2027 BLA filings for gene therapy programs approaching key clinical readouts. Advancing gene therapies to 2027 BLA filings marks major regulatory milestones likely to reshape Ocugen's trajectory and investor sentiment.

13 Aug

4 transcript

Ocugen (OCGN) Q2 2026 earnings call transcript covers quarterly financial results, operational updates, and forward-looking statements from company executives. Earnings call content often reveals financial metrics and guidance that can shift investor sentiment and stock trajectory.

7 Aug

3

Ocugen reported Q2 earnings that missed estimates as R&D costs increased, causing the stock to fall. Q2 earnings miss tied to higher R&D spending directly pressures near-term financial results and stock valuation.

3 transcript

Ocugen Q2 earnings call highlights key financial results, operational updates and forward guidance for the company. Q2 earnings call delivers financial performance data and outlook that moderately shapes near-term investor sentiment and valuation.

6 Aug

4 transcript

Ocugen received FDA clearance to start OCU410 Phase 3 trials, reported in Q2 2026 earnings call highlights. FDA clearance for OCU410 Phase 3 trial advances Ocugen into late-stage development with major implications for pipeline progress and investor outlook.

3

Ocugen posts Q2 loss while beating revenue estimates. Quarterly earnings update affects near-term sentiment without signaling major operational changes.

3

Ocugen reports second quarter 2026 financial results and provides a business update. Quarterly financial results typically influence short-term stock movement and investor views for Ocugen.

29 Jul

4

Ocugen, Inc. (OCGN) announced FDA grant of RMAT designation to OCU410 for treating geographic atrophy secondary to dry age-related macular degeneration. RMAT designation speeds OCU410 development and review, materially strengthening Ocugen pipeline value and investor outlook.

13 Jul

3

Ocugen, Inc. entered a binding term sheet with Roots Pharmaceutical to license OCU400 modifier gene therapy for retinitis pigmentosa in the Middle East and North Africa. Regional licensing expands OCU400 market access but does not alter global trajectory or core operations.

10 Jul

4

Ocugen advances late-stage pipeline and eyes filings for three retinal gene therapies. Multiple gene therapy filings represent major regulatory milestones that can drive approvals, revenue potential and investor revaluation.

3 Jun

4

Ocugen's gene-agnostic eye therapies could reshape late-stage care. Gene-agnostic eye therapies signal major strategic product advances with strong potential to alter Ocugen's market trajectory.

4

Ocugen's OCGN stock carries substantial risk ahead of eye gene therapy clinical data expected between 2026 and 2027. Ocugen's future hinges on 2026-27 eye gene therapy trial results that may reshape company prospects and stock performance.

4

Ocugen (OCGN) publishes catalyst calendar detailing expected trial data releases and regulatory filings through 2028. Long-term catalyst schedule outlines multiple trial readouts and filings that can materially shift development trajectory and investor sentiment.

14 May

4

Ocugen, Inc. closed a $130.0 million offering of 6.75% Convertible Senior Notes due 2029, with initial purchasers including certain funds managed by Blackstone and Oberland Capital. Securing $130 million in convertible notes provides Ocugen substantial non-dilutive capital to fund its gene therapy pipeline and extend financial runway amid biotech development needs.

13 May

3

Ocugen, Inc. (OCGN) reported its first-quarter earnings per share (EPS). Q1 EPS disclosure affects Ocugen's financial performance and short-term investor sentiment.

8 May

4

Ocugen (OCGN) stock dropped 16.8% following a $115M convertible notes deal and wider Q1 losses, prompting questions on whether the bull case remains intact. The $115M convertible notes issuance risks dilution while wider Q1 losses drove a sharp 16.8% stock decline, significantly shaking investor confidence.

3

Ocugen (OCGN) upgraded to Buy rating by analysts citing strong potential in pipeline advancements and undervalued position. Analyst upgrade to Buy signals improved market sentiment and moderate boost to OCGN's stock trajectory.

6 May

3

Ocugen Inc. (OCGN) shares fell after reporting a wider Q1 loss, despite highlighting strong pipeline progress and a positive outlook. Wider Q1 loss impacts short-term financial performance and stock price, balanced by positive pipeline developments.

5 May

4

Ocugen, Inc. priced $115 million aggregate principal amount of 6.75% convertible senior notes due 2029 in a private offering upsized from $100 million. The unsecured senior notes are convertible into cash, OCGN shares, or a combination, with initial conversion rate of 1,372.0219 shares per $1,000 principal. Net proceeds of about $110.1 million will fund general corporate purposes, including research and development and potential acquisitions. Securing $115 million in convertible note financing provides substantial capital for Ocugen's R&D pipeline and operations, significantly enhancing its runway and strategic flexibility.

3

Ocugen reported Q1 2024 revenue of $1.6 million, up from $0.4 million YoY, with net loss of $23.5 million and EPS of -$0.08. Cash stood at $38 million end-Q1, now $21 million. Key updates: OCU400 Phase 3 liMeliGhT trial dosed first patient for RP/LCA; positive OCU410ST Phase 1/2 data for RP; OCU410 Phase 2/3 planning for dry AMD; BearCheck screening launched; CanSinoBIO partnership expanded. Pipeline progress in retinal gene therapies provides moderate boost to future prospects amid ongoing losses.

3

Ocugen (OCGN) reported a Q1 loss but beat revenue estimates. Q1 loss with revenue beat impacts financial performance and investor sentiment moderately.

3

Ocugen, Inc. (OCGN) released first quarter 2026 financial results and business update. Quarterly financial results and business updates moderately influence financial performance and market sentiment.

4 May

4

Ocugen, Inc. (OCGN) announces a private offering of $115 million of convertible senior notes due 2029, with initial purchasers having an option to buy an additional $17.25 million. Private placement of $115 million in convertible notes provides critical non-dilutive capital infusion to support pipeline advancement and operations.

1 May

4

Ocugen (OCGN) completes enrollment for Phase 2/3 pivotal trial of OCU410ST gene therapy targeting geographic atrophy secondary to dry age-related macular degeneration. Completing enrollment in a Phase 2/3 pivotal trial advances OCU410ST toward regulatory approval, significantly boosting Ocugen's pipeline and stock potential.

26 Apr

4

Ocugen (OCGN) narrative shifts as gene therapy program reaches key milestones amid heated valuation debates. Gene therapy milestones indicate major strategic progress capable of significantly impacting Ocugen's trajectory and investor sentiment.

stockrow.com/OCGN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com