Ocugen, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Ocugen, Inc. has filed its Q1 2024 10-Q report, detailing financial performance and corporate information.</b>

AI Summary

Ocugen, Inc. (OCGN) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Ocugen, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. Ocugen, Inc. is incorporated in Delaware. The company's primary SIC code is 2836 for Biological Products (No Diagnostic Substances).

Why It Matters

For investors and stakeholders tracking Ocugen, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data and operational updates for Ocugen, Inc. Understanding the details within this report is crucial for assessing the company's current financial health and future prospects in the biotechnology sector.

Risk Assessment

Risk Level: medium — Ocugen, Inc. shows moderate risk based on this filing. The company's financial performance and future prospects are subject to the inherent risks and uncertainties of drug development and commercialization, which are typical for companies in the biotechnology sector.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-Q to understand Ocugen's current financial position and potential challenges.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-14 — Filing Date (Filed as of date)
• 2836 — SIC Code (Standard Industrial Classification)
• DE — State of Incorporation (State of incorporation)
• 1231 — Fiscal Year End (Fiscal year end)

Key Players & Entities

• Ocugen, Inc. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-14 (date) — Filed as of date
• 11 Great Valley Parkway (address) — Business address
• Malvern (location) — Business address city
• PA (location) — Business address state
• 19355 (postal_code) — Business address zip
• 484-328-4701 (phone_number) — Business phone

FAQ

Industry Context

Ocugen, Inc. operates in the biotechnology sector, focusing on the development of transformative therapies for blinding diseases and infectious diseases.

Regulatory Implications

As a publicly traded company, Ocugen, Inc. is subject to SEC regulations and reporting requirements, including the filing of 10-Q forms for quarterly financial disclosures.

What Investors Should Do

1. Analyze Ocugen's financial statements for Q1 2024 to understand revenue, expenses, and cash flow.
2. Review any disclosed risk factors to assess potential challenges and uncertainties.
3. Examine management's discussion and analysis for insights into operational performance and strategic priorities.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-14: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share OCGN The Nasdaq Stock Market

Filing Documents

• ocgn-20240331.htm (10-Q) — 660KB
• ocgn-20240331x10qxex101.htm (EX-10.1) — 74KB
• ocgn-2024331x10qxex311.htm (EX-31.1) — 10KB
• ocgn-2024331x10qxex312.htm (EX-31.2) — 10KB
• ocgn-20240331x10qxex321.htm (EX-32.1) — 7KB
• ocgn-20240331_g1.jpg (GRAPHIC) — 27KB
• 0001628280-24-023038.txt (&nbsp;) — 4555KB
• ocgn-20240331.xsd (EX-101.SCH) — 30KB
• ocgn-20240331_cal.xml (EX-101.CAL) — 50KB
• ocgn-20240331_def.xml (EX-101.DEF) — 171KB
• ocgn-20240331_lab.xml (EX-101.LAB) — 474KB
• ocgn-20240331_pre.xml (EX-101.PRE) — 328KB
• ocgn-20240331_htm.xml (XML) — 438KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27

—OTHER INFORMATION

PART II—OTHER INFORMATION 29 Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 29 Item 3. Defaults Upon Senior Securities 29 Item 4. Mine Safety Disclosures 29 Item 5. Other Information 29 Item 6. Exhibits 30

Signatures

Signatures 31 Unless the context otherwise requires, references to the "Company," "we," "our," or "us" in this report refer to Ocugen, Inc. and its subsidiaries, and references to "OpCo" refer to Ocugen OpCo, Inc., the Company's wholly owned subsidiary. 1 Table of Contents DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts contained in this Quarterly Report on Form 10-Q regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans, and objectives of management are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "would," or the negative of such terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties, and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. The forward-looking statements in this Quarterly Report on Form 10-Q and those contained in (i) our Annual Report on Form 10-K filed with the United States Securities and Exchange Commission ("SEC") on April 16, 2024 (the "2023 Annual Report") include, among other things, statements about: our estimates regarding expenses, future revenues, and capital requirements, as well as the timing, availability of,

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements OCUGEN, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) (Unaudited) March 31, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 26,375 $ 39,462 Prepaid expenses and other current assets 3,623 3,509 Total current assets 29,998 42,971 Property and equipment, net 17,654 17,290 Other assets 4,142 4,286 Total assets $ 51,794 $ 64,547 Liabilities and stockholders' equity Current liabilities Accounts payable $ 1,731 $ 3,172 Accrued expenses and other current liabilities 12,434 13,343 Operating lease obligations 589 574 Current portion of long term debt 1,296 — Total current liabilities 16,050 17,089 Non-current liabilities Operating lease obligations, less current portion 3,414 3,567 Long term debt, net 1,533 2,800 Other non-current liabilities 536 527 Total non-current liabilities 5,483 6,894 Total liabilities 21,533 23,983 Commitments and contingencies (Note 13) Stockholders' equity Convertible preferred stock; $ 0.01 par value; 10,000,000 shares authorized at March 31, 2024 and December 31, 2023 Series A; zero shares issued and outstanding at March 31, 2024 and December 31, 2023 — — Series B; 54,745 shares issued and outstanding at March 31, 2024 and December 31, 2023 1 1 Common stock; $ 0.01 par value; 295,000,000 shares authorized, 257,446,764 and 256,688,304 shares issued, and 257,325,264 and 256,566,804 shares outstanding at March 31, 2024 and December 31, 2023, respectively 2,575 2,567 Treasury stock, at cost, 121,500 shares at March 31, 2024 and December 31, 2023 ( 48 ) ( 48 ) Additional paid-in capital 325,799 324,191 Accumulated other comprehensive income 25 20 Accumulated deficit ( 298,091 ) ( 286,167 ) Total stockholders' equity 30,261 40,564 Total liabilities and stockholders' equity $ 51,794 $ 64,547 See accompanying notes to condensed consolidated financial statements. 4 Table of Contents OCUGEN, INC. CONDEN

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