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Ocugen Q3 revenue beats expectations, net loss narrows

By Reuters News


Overview

  • US gene therapy developer's Q3 revenue rose and beat analyst expectations

  • Net loss per share for Q3 narrowed to $0.01 from $0.07 last year

  • Company received provisional approval for OCU400 in The Bahamas and signed MENA licensing deal


Outlook

  • Company expects OCU400 Phase 3 topline data in Q1 2027, with BLA submission to follow

  • OCU410ST Phase 2/3 topline data anticipated in Q2 2027, with BLA submission planned

  • Company expects cash runway to extend into 2028


Result Drivers

  • OPERATING EXPENSES - Q3 operating expenses rose slightly due to higher research and development spending, partially offset by lower general and administrative costs


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$1.95 mln

$1.10 mln (6 Analysts)

Q3 Loss Per Share

$0.01

Q3 Net Loss

$3.60 mln

Q3 Operating Expenses

$19.70 mln

Q3 Profit From Operations

-$17.75 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for Ocugen, Inc. is $10.50, about 1,309% above its November 3 closing price of $0.75


Reuters Recommended Reads

  • Nov 2 - FDA to review uniQure's Huntington's gene therapy, decision due on May 2027

  • Nov 2 - Switzerland's CRISPR Therapeutics Q3 CASGEVY revenue jumps 30% sequentially

  • Nov 3 - Ultragenyx Q3 revenue rises, net loss narrows


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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