Ocugen, Inc. (NASDAQ: OCGN) is making significant strides in its ophthalmology gene therapy programs, as highlighted in its recent third-quarter earnings call. The company is advancing multiple clinical trials and has secured financing to support operations well into 2026.
OCU400: Retinitis Pigmentosa (RP) Treatment
Ocugen's lead gene therapy candidate, OCU400, has achieved key regulatory milestones. Health Canada approved the initiation of the Phase 3 liMeliGhT Clinical Trial in Canada, and the U.S. FDA approved an Expanded Access Program (EAP) for OCU400 for treating adults with Retinitis Pigmentosa (RP). This makes OCU400 available to qualifying patients beyond the Phase 3 trial, offering hope for a wider population. The Phase 3 clinical trial is on track to complete enrollment in the first half of 2025, with BLA and MAA filings planned for the first half of 2026, and potential commercialization in 2027.
"These accomplishments and consistent trial enrollment are bringing the company even closer to providing a potential one-time treatment for life to patients living with RP," said Dr. Shankar Musunuri, Ocugen's Chairman, CEO, and Co-Founder.
RP affects approximately 300,000 individuals in the US, Europe, and Canada and is caused by mutations in roughly 100 different genes. OCU400 has showcased its potential to provide a totally new category of treatment using its gene agnostic approach.
OCU410 and OCU410ST: Addressing GA and Stargardt Disease
OCU410 is in Phase 2 for treating geographic atrophy (GA), an advanced form of dry age-related macular degeneration (dAMD). OCU410 is designed to address multiple pathways implicated in dAMD pathogenesis, offering advantages over current treatments that target only the complement system. With 2 to 3 million GA patients in the US and Europe combined, OCU410 represents a considerable market. A preliminary safety and efficacy update on the OCU410 Phase 1/2 ArMaDa clinical trial will be shared at the upcoming clinical showcase next week.
OCU410ST, which has received orphan drug designation from the FDA, is in development for Stargardt disease. Phase 1 dosing of the Phase 1/2 GARDian clinical trial has been completed, demonstrating a favorable safety and tolerability profile. Stargardt disease affects approximately 100,000 people in the US and Europe, with no approved therapy available. A preliminary safety and efficacy update on the OCU410ST Phase 1/2 GARDian clinical trial will also be featured at the upcoming clinical showcase.
OCU200: Diabetic Macular Edema (DME) Candidate
Ocugen's biologic platform, OCU200, is being developed to treat vascular complications of Diabetic Macular Edema (DME). The FDA cleared the investigational drug application for the Phase 1 clinical trial evaluating OCU200, a recombinant fusion protein consisting of tumstatin and transferrin for treatment of DME. Approximately 746,000 patients in the United States are affected with DME, and 30% to 40% of DME patients are refractive to current anti-VEGF therapies. Ocugen believes OCU200 has the potential to provide a new treatment option for a significant percentage of people living with DME, including non-responders to the current standard-of-care. The Phase I clinical trial of OCU200 is planned to initiate this quarter.
Financial Stability
Ocugen reported cash and restricted cash of $39 million as of September 30, 2024. The company recently closed a debt financing that secured $30 million from Avenue Capital Group, which is expected to extend their runway into the first quarter of 2026.
