Nucor earnings beat by $0.08, revenue fell short of estimates
MALVERN, Pa. - Biotechnology company Ocugen, Inc. (NASDAQ:OCGN), currently valued at $298 million, announced Monday it has appointed three renowned retinal surgeons to its Retina Scientific Advisory Board and made key additions to its executive leadership team as it advances its gene therapy programs for blindness diseases. According to InvestingPro data, the company’s stock has shown significant volatility with a beta of 4.19, while posting a 36% gain over the past six months despite recent market challenges.
The company has added Jeffrey S. Heier, Peter K. Kaiser, and Arshad M. Khanani to its Scientific Advisory Board. Dr. Heier serves as Director of Retina Research at Ophthalmic Consultants of Boston, Dr. Kaiser holds the Chaney Family Endowed Chair in Ophthalmology Research at Cleveland Clinic, and Dr. Khanani is Managing Partner and Director of Clinical Research at Sierra Eye Associates.
The three new advisors join existing SAB members Lejla Vajzovic, David S. Boyer, and Carl D. Regillo.
On the executive front, Ocugen has appointed Vijay Tammara as Chief Development Officer, a newly created position. Dr. Tammara brings over 32 years of global regulatory leadership experience, having contributed to nine marketing authorizations and numerous regulatory designations throughout his career at companies including Sanofi, Wyeth/Pfizer, and Merck.
Additionally, Abhi Gupta has been named Executive Vice President of Commercial and Business Development following Mike Shine’s retirement. Gupta has over 20 years of experience in commercial strategy and gene therapy, previously holding roles at Syneos Health, Pfizer, Regeneron, and Johnson & Johnson.
"As our novel modifier gene therapy programs continue to progress and demonstrate positive data in the clinic, it is now more important than ever to solidify an optimized Retina SAB reflecting the absolute best guidance in this space as we move closer to commercialization," said Dr. Shankar Musunuri, Chairman, CEO, and Co-founder of Ocugen, according to the company’s press release. InvestingPro analysis reveals the company faces financial challenges with an EBITDA of -$54.34 million in the last twelve months, highlighting the importance of strategic leadership appointments during this critical phase.
Ocugen is developing gene therapies for blindness diseases including retinitis pigmentosa, Stargardt disease, and geographic atrophy, a late-stage dry age-related macular degeneration. While the company maintains a moderate debt level and strong liquid assets relative to short-term obligations, InvestingPro indicates challenging near-term prospects with analysts anticipating sales decline this year. For deeper insights into Ocugen’s financial health and growth potential, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro along with 14 additional ProTips and extensive financial metrics.
In other recent news, Ocugen, Inc. has dosed the first patient in its Phase 2/3 GARDian3 clinical trial for OCU410ST, a gene therapy candidate for Stargardt disease. This trial follows FDA clearance to begin the pivotal confirmatory study, aiming to assess the reduction in atrophic lesion size and improvements in visual acuity. Ocugen is also advancing its global reach through a licensing agreement with a Korean pharmaceutical company for OCU400, a gene therapy for retinitis pigmentosa, potentially bringing in $11 million in upfront and development milestone payments. The company plans to submit a Biologics License Application for OCU410ST in 2027, marking its second late-stage clinical program. Additionally, Ocugen has entered into a definitive merger agreement with Carisma Therapeutics, which will create a Nasdaq-listed company focused on regenerative cell therapy for orthopedic diseases. This strategic move is expected to unlock market potential for OrthoCellix’s NeoCart technology. Meanwhile, Ocugen has received a 180-day extension from Nasdaq to meet the minimum bid price requirement of $1.00 per share, allowing it until December 2025 to regain compliance. These developments highlight Ocugen’s ongoing efforts to expand its therapeutic pipeline and strengthen its market presence.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.