Ocugen, Inc. (OCGN) gained in the pre-market after announcing the fourth quarter and fiscal 2021 results. OCGN values at $3.17 gained more than 3.92% compared to yesterday’s closing price. The stock closed at $3.06 at the end of the last trading session. The stock volume traded in the last trading session was around 13.32 million shares. The current market cap of the company is around $623.45 million.
OCGN: Q4 and Fiscal 2021 Key Financials
- In the fourth quarter of 2021, R&D spending was $7.1 million. Around $1.6 million was spent on R&D in Q4 2020. In the fiscal year 2021, R&D expenses were $35.1.1 million. Around $6.4 million was spent on R&D in fiscal 2020.
- General and administrative expenses in Q4 2021 were around $7.5 million. In the same quarter of 2020, it was around $2.2 million. General and administrative expense in fiscal 2021 was around $22.2 million. In fiscal 2020 it was around $8 million.
- When compared to Q4 2020, Q4 2021’s loss per share was $0.07, while the loss per share in Q4 2020 was only $0.02. With a $7.0 million in-process research and development expenditure linked to lowering the carrying value of an asset previously classified as held for sale, OCGN announced a $0.30 net loss per share for the year ended December 31, 2021.
OCGN Major Business Achievements
FDA approved Phase 2/3 clinical trial to support a BLA filing in the United States after the FDA withdrew its clinical hold on the IND application for COVAXIN (BBV152).
Additional neutralization data against Omicron were provided as part of FDA engagement to advance the pediatric EUA for COVAXIN, with more than 36 million vaccinated teens on record.
The company filed detailed answers to Health Canada’s NOD on COVAXIN.
For the treatment of hereditary retinal illnesses caused by NR2E3 and RHO disease genotypes, they started OCU400 Phase 1/2 clinical study.
Conclusion
Ocugen, Inc. (OCGN) is a pre-revenue company and has recently developed a covid-19 vaccine. The company is also working on researching the treatment of other diseases. The company is looking forward to the approval from NOD Canada for the approval of COVAXIN.
