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Ocugen, Inc. logo

Ocugen, Inc.

OCGN

NASDAQHealthcareBiotechnology

Open in GoAI

Previous close

$1.39

$0.00 · 0.00%

Aug 21, 4:00 PM ET

Pre-market

$1.40

+$0.01 · +0.72%

Aug 24, 8:30 AM ET

OCGN company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Sell

Trim exposure — unfavorable risk-reward

Valuation

37

Expensive

Momentum

38

Weakening

Sentiment

49

Mixed

Risk resilience

26

High Risk

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Company profile

Company website

Ocugen, Inc. is a biopharmaceutical company in the clinical development phase, primarily dedicated to pioneering gene therapies aimed at treating various ophthalmic conditions leading to blindness. The company's developmental pipeline features several key candidates: OCU400: An innovative gene therapy designed to reinstate both the function and structural integrity of the retina across a broad spectrum of genetically diverse inherited retinal diseases, such as retinitis pigmentosa and Leber congenital amaurosis. OCU410: Another gene therapy candidate, currently being developed to address dry age-related macular degeneration (AMD). OCU200: A novel fusion protein, presently undergoing preclinical evaluation for its potential in treating diabetic macular edema, diabetic retinopathy, and wet AMD. Ocugen maintains significant strategic collaborations, including a partnership with CanSino Biologics Inc. for the joint development and manufacturing of gene therapies, and an alliance with Bharat Biotech for the commercialization of COVAXIN within the United States market. The company's corporate headquarters are situated in Malvern, Pennsylvania.

Industry
Biotechnology
Sector
Healthcare
Headquarters
US
CEO
Shankar Musunuri
Listed since
Dec 3, 2014
Employees
116

Market position

Day range

Current $1.39

52-week range

Current $1.39

Open
$1.405
Previous close
$1.39
Volume
2.45M
0.36× average
Average volume
6.77M
Average daily volume
Market cap
471.36M USD
Beta
2.2
Market reference 1
50-day average
$1.3509
+2.89% above average
200-day average
$1.5086
-7.86% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
419.8M USD
P/E (TTM)
-5.5×
P/B (TTM)
-28.43×
P/S (TTM)
102.92×
EV / EBITDA
-6.97×
Earnings yield
-16.74%
Free cash flow yield
-14.10%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
100.00%
Operating margin
-1504.43%
Net margin
-1786.27%
Return on equity
557.67%
Return on assets
-155.91%
Return on invested capital
-278.62%

Financial health

Debt / equity
-5.31×
Current ratio
1.06×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends468%-1004%-2476%-3948%Gross margin, FY2022: 100.00%Gross margin, FY2023: 88.34%Gross margin, FY2024: 51.47%Gross margin, FY2025: 45.86%Operating margin, FY2022: -3580.02%Operating margin, FY2023: -1085.67%Operating margin, FY2024: -1350.36%Operating margin, FY2025: -1425.70%Net margin, FY2022: -3488.91%Net margin, FY2023: -1045.03%Net margin, FY2024: -1333.02%Net margin, FY2025: -1537.41%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2022 100.00%. Gross margin FY2023 88.34%. Gross margin FY2024 51.47%. Gross margin FY2025 45.86%. Operating margin FY2022 -3580.02%. Operating margin FY2023 -1085.67%. Operating margin FY2024 -1350.36%. Operating margin FY2025 -1425.70%. Net margin FY2022 -3488.91%. Net margin FY2023 -1045.03%. Net margin FY2024 -1333.02%. Net margin FY2025 -1537.41%.

Income trends

Revenue

4.41M USD+8.83%

Operating income

−62.92M USD-14.90%

Net income

−67.85M USD-25.52%
Income trends across reported periods15.55M USD−22.5M USD−60.54M USD−98.58M USDRevenue, FY2022: 2.49M USDRevenue, FY2023: 6.04M USDRevenue, FY2024: 4.06M USDRevenue, FY2025: 4.41M USDOperating income, FY2021: −58.03M USDOperating income, FY2022: −89.07M USDOperating income, FY2023: −65.53M USDOperating income, FY2024: −54.76M USDOperating income, FY2025: −62.92M USDNet income, FY2021: −58.37M USDNet income, FY2022: −86.8M USDNet income, FY2023: −63.08M USDNet income, FY2024: −54.05M USDNet income, FY2025: −67.85M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2022 2.49M USD. Revenue FY2023 6.04M USD. Revenue FY2024 4.06M USD. Revenue FY2025 4.41M USD. Operating income FY2021 −58.03M USD. Operating income FY2022 −89.07M USD. Operating income FY2023 −65.53M USD. Operating income FY2024 −54.76M USD. Operating income FY2025 −62.92M USD. Net income FY2021 −58.37M USD. Net income FY2022 −86.8M USD. Net income FY2023 −63.08M USD. Net income FY2024 −54.05M USD. Net income FY2025 −67.85M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue4.41M USD4.06M USD6.04M USD2.49M USD—
Cost of goods sold2.39M USD1.97M USD704K USD——
Gross profit2.02M USD2.09M USD5.33M USD2.49M USD—
Research and development39.75M USD32.13M USD39.57M USD56.16M USD35.11M USD
Selling, general, and administrative27.58M USD26.69M USD31.99M USD35.4M USD22.92M USD
Operating expenses64.94M USD56.84M USD70.86M USD91.56M USD58.03M USD
Interest income922K USD1.3M USD2.5M USD1.4M USD—
Interest expense5.19M USD———79K USD
Depreciation and amortization2.39M USD1.97M USD704K USD480K USD229K USD
Operating income−62.92M USD−54.76M USD−65.53M USD−89.07M USD−58.03M USD
Net income−67.85M USD−54.05M USD−63.08M USD−86.8M USD−58.37M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
45%
5 beats, 3 misses, 3 met estimates
Average EPS surprise
+2.45%
11 comparable reports
Latest EPS result
-0.07
Estimate -0.05 · Miss by 31.26%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates-0.04-0.07-0.09-0.11Q1 '25MetQ2 '25BeatQ3 '25BeatQ4 '25MissQ1 '26MetQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 5, 2025: actual -0.05, estimate -0.05, surprise 0.00%, Met estimate. Q2 2025, reported May 9, 2025: actual -0.05, estimate -0.06, surprise +16.67%, Beat. Q3 2025, reported Aug 1, 2025: actual -0.05, estimate -0.06, surprise +16.67%, Beat. Q4 2025, reported Nov 5, 2025: actual -0.07, estimate -0.058, surprise -21.74%, Miss. Q1 2026, reported Mar 4, 2026: actual -0.06, estimate -0.06, surprise 0.00%, Met estimate. Q2 2026, reported May 5, 2026: actual -0.06, estimate -0.05, surprise -20.00%, Miss. Q3 2026, reported Aug 6, 2026: actual -0.07, estimate -0.053, surprise -31.26%, Miss. Q4 2026, reported Nov 4, 2026: actual —, estimate -0.06, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates1.91M1.16M403.47K-348.6KQ1 '25BeatQ2 '25No estimateQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Mar 5, 2025: actual 764K USD, estimate 400K USD, surprise +91.00%, Beat. Q2 2025, reported May 9, 2025: actual 1.48M USD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 1, 2025: actual 1.37M USD, estimate 300K USD, surprise +357.67%, Beat. Q4 2025, reported Nov 5, 2025: actual 1.75M USD, estimate 440K USD, surprise +298.18%, Beat. Q1 2026, reported Mar 4, 2026: actual -193K USD, estimate 1.08M USD, surprise -117.95%, Miss. Q2 2026, reported May 5, 2026: actual 1.53M USD, estimate 417.83K USD, surprise +266.89%, Beat. Q3 2026, reported Aug 6, 2026: actual 1.49M USD, estimate 888.83K USD, surprise +67.41%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 1.08M USD, surprise —, Comparison unavailable.

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