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Midas Edge

Ocugen, Inc.

For the period ended Sep 30, 2026. Filed Nov 4, 2026.

View on SEC.gov

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, 2026 · Filed Nov 4, 2026

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

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

See the whole filing, with its images and exhibits
Contents

Condensed Consolidated Balance Sheets as of and

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)

September 30, 2026December 31, 2025
Assets
Current assets
Cash and cash equivalents$24,632$18,571
Short-term investments59,625—
Prepaid expenses and other current assets7,1705,769
Total current assets91,42724,340
Property and equipment, net12,71114,392
Restricted cash321316
Other assets3,6024,468
Total assets$108,06143,516
Liabilities and stockholders' equity
Current liabilities
Accounts payable$5,074$6,202
Accrued expenses and other current liabilities12,68314,733
Operating lease obligations846858
Convertible notes83,117—
Derivative liability17,146—
Current portion of long term debt351,250
Total current liabilities118,90123,043
Non-current liabilities
Operating lease obligations, less current portion2,8213,494
Long term debt, net1,74327,542
Other non-current liabilities2,2771,603
Total non-current liabilities6,84132,639
Total liabilities125,74255,682
Commitments and contingencies (Note 15)
Stockholders' equity (deficit)
Preferred stock; $0.01 par value; 10,000,000 shares authorized at September 30, 2026 and December 31, 2025; zero shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively.——
Common stock; $0.01 par value; 390,000,000 shares authorized, 339,428,103 and 312,501,472 shares issued, and 339,306,603 and 312,379,972 shares outstanding at September 30, 2026 and December 31, 2025, respectively3,3923,125
Treasury stock, at cost, 121,500 shares at September 30, 2026 and December 31, 2025(48)(48)
Additional paid-in capital434,548392,763
Accumulated other comprehensive income14661
Accumulated deficit(455,719)(408,067)
Total stockholders' equity (deficit)(17,681)(12,166)
Total liabilities and stockholders' equity (deficit)$108,061$43,516

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,
2026202520262025
Collaborative arrangement revenue$1,951$1,752$4,973$4,606
Total revenue1,9511,7524,9734,606
Operating expenses
Research and development12,50011,14934,44529,081
General and administrative7,2048,22822,56321,446
Total operating expenses19,70419,37757,00850,527
Loss from operations(17,753)(17,625)(52,035)(45,921)
Other (expense) income:
Interest income6492071,174778
Interest expense(3,090)(1,314)(8,886)(3,856)
Loss on extinguishment of debt——(2,383)—
Change in fair value of derivative liability16,562—14,671—
Other expense, net34(1,319)(194)(1,141)
Total other (expense) income14,155(2,426)4,382(4,219)
Net loss$(3,598)$(20,051)$(47,653)$(50,140)
Other comprehensive income (loss)
Foreign currency translation adjustment264617910
Unrealized gain (loss) on available-for-sale debt securities(93)—(93)—
Comprehensive loss$(3,665)$(20,005)$(47,567)$(50,130)
Net loss attributable to common shareholders — basic and diluted(3,598)(20,051)(47,653)(50,140)
Weighted shares used in calculating net loss per common share — basic and diluted339,214,302304,003,247335,188,753296,066,314
Net loss per share attributable to common shareholders — basic and diluted$(0.01)$(0.07)$(0.14)$(0.17)

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)

(in thousands, except share amounts)

Common Stock · Treasury Stock · AdditionalPaid-in Capital · Accumulated Other Comprehensive Income · AccumulatedDeficit · Total
Shares · Amount
Balance at December 31, 2025312,501,472$3,125$(48)$392,763$61$(408,067)$(12,166)
Stock-based compensation expense———2,061——2,061
Issuance of common stock for stock option exercises and restricted stock unit vesting, net938,9279—79——88
Issuance of common stock for capital raises, net15,000,000150—20,571——20,721
Issuance of common stock upon exercise of warrants10,000,000100—14,075——14,175
Other comprehensive income (loss)————103—103
Net loss—————(19,177)(19,177)
Balance at March 31, 2026338,440,399$3,384$(48)$429,549$164$(427,244)$5,805
Stock-based compensation expense———1,880——1,880
Issuance of common stock for stock option exercises and restricted stock unit vesting, net725,9946—581——587
Other comprehensive income (loss)————49—49
Net loss—————(24,877)(24,877)
Balance at June 30, 2026339,166,3933,390(48)432,010213(452,121)(16,556)
Stock-based compensation expense———2,363——2,363
Issuance of common stock for stock option exercises and restricted stock unit vesting, net261,7102—175——177
Unrealized gain (loss) on available-for-sale debt securities————(93)—(93)
Other comprehensive income (loss)————26—26
Net loss—————(3,598)(3,598)
Balance at September 30, 2026339,428,103$3,392$(48)434,548$146$(455,719)(17,681)

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (CONTINUED)

(in thousands, except share amounts)

Common Stock · Treasury Stock · AdditionalPaid-in Capital · Accumulated Other Comprehensive Income · AccumulatedDeficit · Total
Shares · Amount
Balance at December 31, 2024291,489,058$2,915$(48)$366,938$48$(340,221)$29,632
Stock-based compensation expense———1,885——1,885
Issuance of common stock for stock option exercises and restricted stock unit vesting, net660,9177—(252)——(245)
Other comprehensive income (loss)————(8)—(8)
Net loss—————(15,350)(15,350)
Balance at March 31, 2025292,149,975$2,922$(48)$368,571$40$(355,571)$15,914
Stock-based compensation expense———1,844——1,844
Issuance of common stock for stock option exercises and restricted stock unit vesting, net163,5862—59——61
Other comprehensive income (loss)————(28)—(28)
Net loss—————(14,739)(14,739)
Balance at June 30, 2025292,313,561$2,924$(48)$370,474$12$(370,310)$3,052
Stock-based compensation expense———1,976——1,976
Issuance of common stock for stock option exercises and restricted stock unit vesting, net127,5621—55——56
Issuance of common stock for capital raises, net of issuance costs20,000,000200—18,254——18,454
Other comprehensive income (loss)———46—46
Net loss—————(20,051)(20,051)
Balance at September 30, 2025312,441,123$3,125$(48)$390,759$58$(390,361)$3,533
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.