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MALVERN, Pa. - Ocugen, Inc. (NASDAQ:OCGN), a biotechnology company with a market capitalization of $301 million and notably volatile stock performance according to InvestingPro, announced Tuesday it has closed its previously announced registered direct offering, raising approximately $20 million before expenses through the sale of 20 million shares of common stock and accompanying warrants to Janus Henderson Investors.
The biotechnology company, which focuses on gene therapies for blindness diseases, sold the shares at $1.00 each, matching the closing price on August 7. The transaction also included warrants to purchase up to 20 million additional shares at an exercise price of $1.50 per share. The warrants are immediately exercisable and will expire in two years.
Noble Capital Markets served as the sole placement agent for the offering, while Maxim Group and Titan Partners Group acted as independent financial advisors.
Ocugen stated the proceeds are expected to extend its cash runway into the second quarter of 2026. With an EBITDA of -$52.34 million and InvestingPro analysis showing rapid cash burn, if the warrants are fully exercised, the company could receive up to an additional $30 million, potentially extending its financial resources into the first quarter of 2027.
The offering was conducted under an effective shelf registration statement previously filed with the Securities and Exchange Commission.
Ocugen describes itself as a biotechnology company developing modifier gene therapies for blindness diseases, including retinitis pigmentosa, Stargardt disease, and geographic atrophy. According to the press release statement, the company’s approach differs from traditional gene therapies by addressing diseases caused by imbalances in multiple gene networks. Analyst price targets range from $4 to $8, reflecting significant upside potential despite current unprofitability. For detailed analysis and 12 additional ProTips about OCGN, access the comprehensive research report available on InvestingPro.
In other recent news, Ocugen, Inc. reported its Q2 2025 earnings, revealing a slight improvement over expectations. The company posted an earnings per share (EPS) of -$0.05, which was better than the forecasted -$0.06, marking a 16.67% surprise. Revenue for the quarter reached $1.37 million. Additionally, Ocugen secured a $20 million investment through a registered direct offering with Janus Henderson Investors. This agreement includes the sale of 20 million shares of common stock and warrants to purchase up to an additional 20 million shares at a purchase price of $1.00 per share. The warrants have an exercise price of $1.50 per share, are immediately exercisable, and will expire two years after issuance. These developments indicate active financial maneuvers by Ocugen to bolster its capital and operations.
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