Ocugen, Inc.

For the period ended Sep 30, 2025. Filed Nov 5, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 5, 2025

OCGN$0.95-2.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Balance Sheets as of and

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)

	September 30, 2025	December 31, 2024
Assets
Current assets
Cash	$32,565	$58,514
Prepaid expenses and other current assets	5,074	3,168
Total current assets	37,639	61,682
Property and equipment, net	14,946	16,554
Restricted cash	314	307
Other assets	4,697	3,899
Total assets	$57,596	82,442
Liabilities and stockholders' equity
Current liabilities
Accounts payable	$4,574	$4,243
Accrued expenses and other current liabilities	14,932	15,500
Operating lease obligations	855	519
Current portion of long term debt	—	1,326
Total current liabilities	20,361	21,588
Non-current liabilities
Operating lease obligations, less current portion	3,709	3,313
Long term debt, net	28,400	27,345
Other non-current liabilities	1,593	564
Total non-current liabilities	33,702	31,222
Total liabilities	54,063	52,810
Commitments and contingencies (Note 13)
Stockholders' equity
Common stock; $0.01 par value; 390,000,000 shares authorized, 312,441,123 and 291,489,058 shares issued, and 312,319,623 and 291,367,558 shares outstanding at September 30, 2025 and December 31, 2024, respectively	3,125	2,915
Treasury stock, at cost, 121,500 shares at September 30, 2025 and December 31, 2024	(48)	(48)
Additional paid-in capital	390,759	366,938
Accumulated other comprehensive income	58	48
Accumulated deficit	(390,361)	(340,221)
Total stockholders' equity	3,533	29,632
Total liabilities and stockholders' equity	$57,596	$82,442

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(in thousands, except share and per share amounts)

	Three months ended September 30,		Nine months ended September 30,
	2025	2024	2025	2024
Collaborative arrangement revenue	$1,752	$1,136	$4,606	$3,291
Total revenue	1,752	1,136	4,606	3,291
Operating expenses
Research and development	11,149	8,108	29,081	23,836
General and administrative	8,228	6,280	21,446	20,372
Total operating expenses	19,377	14,388	50,527	44,208
Loss from operations	(17,625)	(13,252)	(45,921)	(40,917)
Other (expense) income :
Interest expense	(1,314)	(29)	(3,856)	(87)
Interest income	207	310	778	843
Other (expense) income, net	(1,319)	1	(1,141)	(13)
Total other (expense) income	(2,426)	282	(4,219)	743
Net loss	$(20,051)	$(12,970)	$(50,140)	$(40,174)
Other comprehensive income (loss)
Foreign currency translation adjustment	46	(5)	10	3
Comprehensive loss	$(20,005)	$(12,975)	$(50,130)	$(40,171)
Net loss attributable to common shareholders — basic and diluted	(20,051)	(12,970)	(50,140)	(40,128)
Weighted shares used in calculating net loss per common share — basic and diluted	304,003,247	278,171,593	296,066,314	264,303,494
Net loss per share attributable to common shareholders — basic and diluted	$(0.07)	$(0.05)	$(0.17)	$(0.15)
Net loss attributable to Series B Convertible Preferred shareholders — basic and diluted	—	—	—	(46)
Weighted shares used in calculating net loss per Series B Convertible Preferred Stock — basic and diluted	—	—	—	54,745
Net loss per share attributable to Series B Convertible Preferred shareholders — basic and diluted	—	—	—	(0.84)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.