OCGN Stock — Ocugen Inc.: Cash, EV, Pipeline

Share price

$1.04

Market cap

$354.4M

Cash

$100.0M

Enterprise value

$256.1M

Balance sheet

Cash	$100.0M
Debt	$1.7M
Net cash	$98.3M
Enterprise value	$256.1M
Basic shares	339.0M shares
Fully diluted shares	369.7M shares
Fully diluted market cap	$384.4M
Cash per share	$0.30

Cash figures as of 2026-06-30. Database snapshot: 2026-09-22.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Now - Oct 23, 2026	OCU200	Phase 1	Center Involved Diabetic Macular Edema; Diabetic Macular Edema	—
Nov 9 - Dec 21	OCU410ST	Phase 2/3	Stargardt Disease	—
Mar 26 - May 7	Sub-Retinal Administration of OCU400-301	Phase 3	Retinitis Pigmentosa	—
Apr 12 - May 24	OCU400 Low Dose	Phase 1/2	Retinitis Pigmentosa; Leber Congenital Amaurosis	—
Sep 10 - Oct 22	OCU410	Phase 3	Dry Age-related Macular Degeneration	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

OCU400

Phase 3 · Active Modality: modifier gene therapy (AAV5)

Target NR2E3

Partnerships CanSinoBIO (co-development/commercialization, 2019; amended for OCU410/OCU410ST); Kwangdong Pharmaceutical (exclusive development/commercialization in South Korea, Sept 2025); Roots Pharmaceutical (binding term sheet July 2026 for MENA rights in RP)

Indications

retinitis pigmentosa (RP) (Phase 3)
Leber congenital amaurosis (LCA) (Stage not disclosed)

Catalysts

— not dated

Status note Delivers functional NR2E3 gene to retina. Phase 3 liMeliGhT trial in RP completed enrollment (N=140). Holds FDA RMAT and Orphan Drug designations for RP, plus EMA orphan medicinal product designation.

OCU410

Phase 2 · Active Modality: modifier gene therapy (AAV5, single subretinal injection)

Target RORA

Partnerships CanSinoBIO (co-development/commercialization)

Indications

geographic atrophy (GA) secondary to dry age-related macular degeneration (dAMD) (Phase 2)

Catalysts

— July 2026

Status note Delivers human RORA gene to retinal tissue. Completed dosing in Phase 2 of Phase 1/2 ArMaDa trial for GA secondary to dAMD. One-time therapy vs multi-injection competitors.

OCU410ST

Phase 2/3 · Active Modality: modifier gene therapy (AAV5)

Target RORA

Partnerships CanSinoBIO (co-development/commercialization)

Indications

Stargardt disease (Phase 2/3)

Status note Phase 2/3 pivotal confirmatory trial in Stargardt disease; company's second late-stage program. Delivers human RORA gene to retinal tissue.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Sub-Retinal Administration of OCU400-301
Lead indication	Retinitis Pigmentosa
Lead phase	Phase 3
Active trials	6

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06388200	Phase 3	Active, not recruiting	Sponsor	Ocugen	—	Retinitis Pigmentosa	—
NCT07770828	Phase 3	Recruiting	Sponsor	Ocugen	—	Dry Age-related Macular Degeneration	—
NCT05956626	Phase 2/3	Active, not recruiting	Sponsor	Ocugen	—	Stargardt Disease	—
NCT05203939	Phase 1/2	Active, not recruiting	Sponsor	Ocugen	—	Retinitis Pigmentosa; Leber Congenital Amaurosis	—
NCT06018558	Phase 1/2	Active, not recruiting	Sponsor	Ocugen	—	Geographic Atrophy	—
NCT05802329	Phase 1	Recruiting	Sponsor	Ocugen	—	Center Involved Diabetic Macular Edema; Diabetic Macular Edema	—

Sponsor-matched active trials from ClinicalTrials.gov (6 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 6 active trials for Ocugen on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
RTW Investments	6,666,666	no change	0.09%	2026-08-14
Ikarian Capital	3,962,972	no change	0.99%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

OCGN — Ocugen Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders