Ocugen, Inc. · NASDAQ:OCGN
Ocugen — Q3 2026 Earnings Presentation
16 slides from Ocugen's earnings presentation, Nov 4, 2026
Slide 1: Courageous Innovation: Game-Changing Gene Therapies to Market
Courageous Innovation Dedicated to Bringing Game-Changing Gene Therapies to Market and Working Even Harder to Provide Access to Patients Globally
Slide 2: Forward-Looking Statements
2 This presentation contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including, but not limited to, strategy, business plans and objectives for Ocugen’s clinical programs, plans and timelines for the preclinical and clinical development
Slide 3: Pipeline: A quarter of execution across three programs
3 Pipeline A quarter of execution across three programs Ocugen – Third Quarter Business Update OCU410ST Stargardt Disease 100K U.S.+EU patients No approved therapy ODD · RPDD · OMPD · ATMP Current Stage Phase 2/3 GARDian3 Enrollment complete Ph1 Ph2 Ph3 BLA Approved Next Catalysts Topline data: 2Q 2
Slide 4: The largest orphan gene therapy trial ever run, targeting all RP mutations
4 The largest orphan gene therapy trial ever run, targeting approval across all RP mutations 140 patients enrolled in Phase 3 liMeliGhT trial (largest orphan gene therapy Ph3) 100+ RP-causing genes addressed by a single subretinal injection 1H 2027 topline data expected: 1Q BLA filing target: 2Q POP
Slide 5: EAP Program in The Bahamas marks first OCU400 approval
5 Highlights: • Bahamas Regulatory Agency, (LARTA1 ), provided provisional approval and priority designation of OCU400 • Advancing toward full approval and patient enrollment, under a regulated EAP2 , potentially as early as year-end • Executed agreement with local partner, (GARM3 ), to coordinate a
Slide 6: Phase 1/2 Subject Disposition: Safety and Post-hoc Efficacy Analysis
Phase 1/2 Subject Disposition: Safety and Post-hoc Efficacy Analysis 18 Safety analysis All Phase 1/2 subjects −2 → 16 Post-hoc efficacy 9 RHO 3 AD-NR2E3 4 AR-NR2E3 −3 → 13 Post-hoc efficacy 9 RHO 4 AR-NR2E3 −6 → 7 Phase 3 ITT* Post hoc efficacy 5 RHO 2 AR-NR2E3 18 → 16 2 with surgery-related AEs Su
Slide 7: Phase 1/2 Population Meeting Intent to Treat Criteria for Phase 3
Phase 1/2 Population Meeting “Intent to Treat Population” Criteria for Phase 3* at 12M *RHO +AR-NR2E3 Subjects (- Adverse Events, Sentinel); and Ceiling Effect (RHO+AR-NR2E3) Subjects, Sub#= Subject numbers # AR-NR2E3 Subjects: Baseline MLMT at 5 Lux level; 1 Lux level improvement resulted in ceilin
Slide 8: OCU400 Phase 3 Study: >99% power
OCU400 Phase 3 Study: >99% power as per current enrollment and effect size assumption Statistical Method • Power calculated using SAS PROC POWER. • One-sided Fisher's Exact Test. • Significance level (α): 0.025. • Binary responder endpoint. Study Design • Total sample size: N = 140 subjects.(TRT-92,
Slide 9: First-in-Class Gene Therapy for Stargardt Disease OCU410ST
9 First-in-Class Gene Therapy for Stargardt Disease OCU410ST 100K U.S. + EU patients No approved therapy globally Q3 2026 GARDian3 enrollment interim outcome Q2 2027 topline data expected; EMA accepted single U.S. trial for MAA Stargardt is the most common inherited macular dystrophy — caused by mut
Slide 10: Current GA therapy targets the lesion; OCU410 designed to do both
10 Current GA therapy targets the lesion; none target the vision — OCU410 was designed to do both 31% Lesion growth reduction vs. control (p<0.05) OCU410 Phase 2 ArMaDa2 (12 months) lesion size ≥2.5 mm2 and ≤17.5 mm2 27% EZ preservation (correlates to visual function) lesion size ≥2.5 mm2 and ≤17.5
Slide 11: OCU410 Global Phase 3 (ArMaDa 3) Trial Design for GA
Proposed Endpoints Primary • Rate of change (slope) of square root-transformed GA lesion area (√mm²/year) from baseline to Month 12, treated eyes vs control eyes as assessed by FAF Secondary • Proportion of subjects with LLVA ≥15 Letter Loss from Baseline to M12 as assessed by ETDRS visual charts at
Slide 12: Three indications. 3+ million patients. Multibillion market.
12 Three indications. 3+ million patients. Multibillion market. Market Opportunity OCU410 — Geographic Atrophy 2–3M patients · U.S. + EU 2.5M+ untreated today $300-600k pricing assumption (market potential)2 Current treatment landscape unable to support visual gain OCU410ST — Stargardt Disease 100K
Slide 13: Financial Update: Statement of Operations
Financial Update Summary information from Statement of Operations Three months ended September 30, 2026 2025 Research and development expense $12.5 $11.1 General and administrative expense $7.2 $8.2 (Gain) loss for change in fair value of derivative liability $(16.6) - Interest expense, net $2.4 $1.
Slide 14: Financial Update: Balance Sheet Data
Financial Update Balance Sheet Data September 30, 2026 Dec 31, 2025 (Audited) Cash, cash equivalents, restricted cash, and short-term investments $84.6 $18.9 Convertible Notes and related embedded derivative liability $100.3 _ Other Debt $1.8 $28.8 Shares outstanding 339,306,603 312,379,972 14 Excep
Slide 15: Anticipated Milestones – Three BLAs by 2028
15 Milestones Anticipated Milestones – Three BLAs by 2028 Retinitis Pigmentosa Stargardt Disease Geographic Atrophy OCU400 OCU410ST OCU410 Phase 3 topline data Initiate Phase 3 2026 2027 1Q 2Q 3Q 4Q Phase 3 topline data BLA Submission Approval/ Launch Approval/ Launch BLA Submission 1H 2H 2028 Phase
Slide 16: Q&A
Q&A