# Ocugen Inc. (OCGN)

**Exchange:** NASDAQ  
**Sector:** Healthcare  
**Market cap:** $381M  
**Price:** $1.22 (+2.52%)

> Ocugen Inc. is a biopharmaceutical company headquartered in Malvern, Pennsylvania, specializing in the discovery, development, and commercialization of gene therapies, cell therapies, and vaccines. The company's primary focus centers on rare inherited retinal diseases, with its breakthrough modifier gene therapy platform designed to treat conditions like retinitis pigmentosa, leber congenital amaurosis, and Stargardt disease through products including OCU400, OCU410, and OCU410ST. Ocugen also develops OCU200, a fusion protein targeting diabetic macular edema and age-related macular degeneration. Beyond ophthalmology, the company pursues vaccine development with candidates including OCU500 for COVID-19, OCU510 for seasonal flu, and OCU520 combining both vaccine approaches. Additionally, Ocugen is advancing NeoCart, an autologous cell therapy for knee cartilage repair. The company collaborates with major research institutions including the National Institute of Allergy and Infectious Diseases and maintains a strategic partnership with CanSino Biologics for manufacturing its modifier gene therapy pipeline candidates. Ocugen operates as a fully integrated, patient-centric biotech enterprise committed to addressing significant unmet medical needs across ophthalmology, infectious disease, and orthopedics.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $4M | — | -$63M | -$68M | — |
| 2024 | $4M | — | -$55M | -$54M | — |
| 2023 | $6M | — | -$66M | -$63M | $-0.26 |
| 2022 | $2M | — | -$89M | -$87M | $-0.40 |
| 2021 | — | — | -$58M | -$58M | $-0.30 |
| 2020 | $43,000 | — | -$21M | -$22M | $-0.31 |
| 2019 | — | — | -$14M | -$20M | $-1.46 |
| 2018 | — | — | -$16M | -$18M | $-0.79 |
| 2017 | — | — | -$25M | -$26M | $-0.99 |
| 2016 | — | — | -$30M | -$16M | $-2.18 |
| 2015 | — | — | -$32M | -$32M | $-2.42 |
| 2014 | — | — | -$33M | -$23M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $44M | $56M | -$12M | — | $28M |
| 2024 | $82M | $53M | $30M | — | $27M |
| 2023 | $65M | $24M | $41M | $39M | $3M |
| 2022 | $109M | $35M | $74M | $78M | $2M |
| 2021 | $106M | $10M | $91M | $95M | $2M |
| 2020 | $27M | $6M | $22M | $24M | $2M |
| 2019 | $17M | $6M | $11M | $7M | $1M |
| 2018 | $2M | $15M | -$13M | $2M | $1M |
| 2017 | $11M | $22M | $4M | $7M | — |
| 2016 | $36M | $23M | $14M | $32M | — |
| 2015 | $37M | $9M | $28M | $31M | — |
| 2014 | $65M | $11M | $54M | $59M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$57M | $185,000 | -$57M |
| 2024 | -$42M | $3M | -$46M |
| 2023 | -$62M | $10M | -$73M |
| 2022 | -$60M | $4M | -$65M |
| 2021 | -$48M | $939,000 | -$49M |
| 2020 | -$15M | $307,000 | -$15M |
| 2019 | -$17M | $30,000 | -$17M |
| 2018 | -$12M | $77,414 | -$12M |
| 2017 | -$23M | $276,000 | -$23M |

Source: [CompaniesByCap](https://companiesbycap.com/company/OCGN)