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Company profile

The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies. It offers products under the brands, such as Olay, Old Spice, Safeguard, Head & Shoulders, Pantene, Rejoice, Mach3, Prestobarba, Venus, Cascade, Dawn, Febreze, Mr. Clean, Bounty and Charmin.

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Today's volume of 5,538,596 shares is on pace to be greater than PG's 10-day average volume of 7,423,969 shares.


Ocugen Provides Business Update and First Quarter 2021 Financial Results

7:30 am ET May 7, 2021 (Globe Newswire) Print

Conference Call and Webcast Today at 8:30 a.m. ET

Ocugen, Inc. ("Ocugen") (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19, today reported first quarter 2021 financial results along with a general business update.

"We continue our dedication to help save lives from COVID-19 by bringing COVAXIN to the U.S. market while simultaneously driving our ophthalmology gene therapy pipeline toward the clinic. We shared compelling second interim analysis results of Bharat Biotech's Phase 3 clinical trial in India as well as positive data from in-vitro studies regarding COVAXIN's ability to neutralize emerging variants. We continue to make progress toward Emergency Use Authorization for COVAXIN while also considering clinical development in special populations, such as children, as well as booster doses. We are delighted to have raised additional capital to fund our ongoing and future operations and to allow us to recruit key talent during this important stage of our growth," said Dr. Shankar Musunuri, Chairman, Chief Executive Officer, and Co-Founder of Ocugen.

Business Highlights

First Quarter 2021 Financial Results

Conference Call and Webcast Details

Ocugen has scheduled a conference call and webcast for 8:30 a.m. eastern time today to discuss the financial results and recent business highlights. Ocugen's senior management team will host the call, which will be open to all listeners. There will also be a question-and-answer session following the prepared remarks.

The call can be accessed by dialing (844) 873-7330 (U.S.) or (602) 563-8473 (international) and providing the conference ID 9757658. To access a live audio webcast of the call on the "Investors" section of the Ocugen website, please click here. A replay of the webcast will be archived on Ocugen's website for approximately 45 days following the call.

About Ocugen, Inc.

Ocugen, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug -- "one to many," and our novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy. We are co-developing Bharat Biotech's COVAXIN vaccine candidate for COVID-19 in the U.S. market. For more information, please visit

Cautionary Note on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as "predicts," "believes," "potential," "proposed," "continue," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such forward-looking statements include information about qualitative assessments of available data, potential benefits, expectations for clinical trials, and anticipated timing of clinical trial readouts and regulatory submissions. This information involves risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as risks associated with preliminary and interim data, including the possibility of unfavorable new clinical trial data and further analyses of existing clinical trial data; the risk that clinical trial data are subject to differing interpretations and assessments, including during the peer review/publication process, in the scientific community generally, and by regulatory authorities; whether and when data from Bharat Biotech's clinical trials will be published in scientific journal publications and, if so, when and with what modifications; whether the FDA will be satisfied with the design of and results from preclinical and clinical studies of COVAXIN, which have been conducted by Bharat Biotech in India; whether and when any Biologics License and/or EUA applications may be filed in the United States for COVAXIN; whether and when any such applications may be approved by the FDA; decisions by the FDA impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of COVAXIN in the United States, including development of products or therapies by other companies. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission ("SEC"), including the risk factors described in the section entitled "Risk Factors" in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.

Corporate Contact:

Ocugen, Inc.

Sanjay Subramanian

CFO and Head of Corp. Dev.

Media Contact:


Lisa DeScenza

+1 978-395-5970



(in thousands)


                                                 March 31, 2021   December 31, 2020
Current assets
Cash and cash equivalents                        $   44,792       $    24,039
Advance for COVAXIN supply                       4,988            --
Prepaid expenses and other current assets        1,576            1,839
Total current assets                             51,356           25,878
Property and equipment, net                      762              633
Restricted cash                                  151              151
Other assets                                     1,578            714
Total assets                                     $   53,847       $    27,376
Liabilities and stockholders' equity
Current liabilities
Accounts payable                                 $   1,040        $    395
Accrued expenses and other current liabilities   2,703            2,941
Short-term debt, net                             374              234
Operating lease obligation                       164              44
Total current liabilities                        4,281            3,614
Non-current liabilities
Operating lease obligation, less current portion 1,375            389
Long term debt, net                              1,702            1,823
Total liabilities                                7,358            5,826
Stockholders' equity
Convertible preferred stock                      1                --
Common stock                                     1,883            1,841
Treasury stock                                   (48        )     (48         )
Additional paid-in capital                       125,032          93,059
Accumulated deficit                              (80,379    )     (73,302     )
Total stockholders' equity                       46,489           21,550
Total liabilities and stockholders' equity       $   53,847       $    27,376



(in thousands, except share and per share amounts)


                                                                          Three months ended March 31,
                                                                          2021               2020
Operating expenses
Research and development                                                  $     2,872        $     1,652
General and administrative                                                4,185              2,277
Total operating expenses                                                  7,057              3,929
Loss from operations                                                      (7,057       )     (3,929       )
Other income (expense)
Interest expense                                                          (20          )     (15          )
Total other income (expense)                                              (20          )     (15          )
Net loss                                                                  $     (7,077 )     $     (3,944 )
Shares used in calculating net loss per common share -- basic and diluted 186,298,122        52,627,228
Net loss per share of common stock -- basic and diluted                   $     (0.04  )     $     (0.07  )

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