2021 Q1 Form 10-Q Financial Statement

#000162828021009457 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.190M $2.280M
YoY Change 83.77% -22.18%
% of Gross Profit
Research & Development $2.872M $1.652M
YoY Change 73.82% -56.44%
% of Gross Profit
Depreciation & Amortization $44.00K $18.00K
YoY Change 144.44% 23.25%
% of Gross Profit
Operating Expenses $7.057M $3.929M
YoY Change 79.61% -18.84%
Operating Profit -$7.057M -$3.929M
YoY Change 79.61% -18.84%
Interest Expense $20.00K $15.00K
YoY Change 33.33% -97.84%
% of Operating Profit
Other Income/Expense, Net -$20.00K -$15.00K
YoY Change 33.33% -98.98%
Pretax Income -$7.080M -$3.940M
YoY Change 79.7% -58.17%
Income Tax
% Of Pretax Income
Net Earnings -$7.077M -$3.944M
YoY Change 79.44% -37.52%
Net Earnings / Revenue
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share -$0.04 -$74.86K
COMMON SHARES
Basic Shares Outstanding 186.3M shares 52.63M shares
Diluted Shares Outstanding 186.3M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.79M $3.190M
YoY Change 1304.08% -56.78%
Cash & Equivalents $44.79M $3.193M
Short-Term Investments
Other Short-Term Assets $6.570M $8.170M
YoY Change -19.58% 975.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $51.36M $11.36M
YoY Change 351.98% 39.59%
LONG-TERM ASSETS
Property, Plant & Equipment $762.0K $249.0K
YoY Change 206.03% 84.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.578M $551.2K
YoY Change 186.3% -91.42%
Total Long-Term Assets $2.491M $951.3K
YoY Change 161.86% -85.8%
TOTAL ASSETS
Total Short-Term Assets $51.36M $11.36M
Total Long-Term Assets $2.491M $951.3K
Total Assets $53.85M $12.31M
YoY Change 337.29% -17.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.040M $1.548M
YoY Change -32.83% 40.76%
Accrued Expenses $2.870M $1.384M
YoY Change 107.42% 1297.63%
Deferred Revenue
YoY Change
Short-Term Debt $374.0K $0.00
YoY Change
Long-Term Debt Due $370.0K
YoY Change
Total Short-Term Liabilities $4.281M $3.315M
YoY Change 29.14% 43.07%
LONG-TERM LIABILITIES
Long-Term Debt $1.702M $1.581M
YoY Change 7.68%
Other Long-Term Liabilities $1.380M $3.940K
YoY Change 34925.38% -99.98%
Total Long-Term Liabilities $3.077M $1.702M
YoY Change 80.83% -90.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.281M $3.315M
Total Long-Term Liabilities $3.077M $1.702M
Total Liabilities $7.358M $5.017M
YoY Change 46.67% -75.37%
SHAREHOLDERS EQUITY
Retained Earnings -$80.38M -$55.40M
YoY Change 45.09% -75.51%
Common Stock $1.883M $527.5K
YoY Change 256.99% -99.76%
Preferred Stock
YoY Change
Treasury Stock (at cost) $48.00K $47.86K
YoY Change 0.28%
Treasury Stock Shares
Shareholders Equity $46.49M $7.297M
YoY Change
Total Liabilities & Shareholders Equity $53.85M $12.31M
YoY Change 337.29% -17.01%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$7.077M -$3.944M
YoY Change 79.44% -37.52%
Depreciation, Depletion And Amortization $44.00K $18.00K
YoY Change 144.44% 23.25%
Cash From Operating Activities -$5.283M -$4.686M
YoY Change 12.74% 75.69%
INVESTING ACTIVITIES
Capital Expenditures $261.0K $53.00K
YoY Change 392.45% 400.9%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$261.0K -$53.00K
YoY Change 392.45% 400.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $28.13M $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $26.30M $488.0K
YoY Change 5288.73% -64.09%
NET CHANGE
Cash From Operating Activities -$5.283M -$4.686M
Cash From Investing Activities -$261.0K -$53.00K
Cash From Financing Activities $26.30M $488.0K
Net Change In Cash $20.75M -$4.251M
YoY Change -588.19% 222.22%
FREE CASH FLOW
Cash From Operating Activities -$5.283M -$4.686M
Capital Expenditures $261.0K $53.00K
Free Cash Flow -$5.544M -$4.739M
YoY Change 16.99% 76.97%

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Nature of Business<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ocugen, Inc., together with its wholly owned subsidiaries (“Ocugen” or the “Company”), is a biopharmaceutical company focused on developing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. The Company is located in Malvern, Pennsylvania, and manages its business as one operating segment.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">COVID-19 Vaccine</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In February 2021, the Company entered into a Co-Development, Supply and Commercialization Agreement (the "Covaxin Agreement") with Bharat Biotech International Limited ("Bharat Biotech"), pursuant to which the Company obtained an exclusive right and license under certain of Bharat Biotech's intellectual property rights, with the right to grant sublicenses to develop, manufacture, and commercialize COVAXIN for the prevention of COVID-19 in humans in the United States, its territories and possessions (the “Ocugen Covaxin Territory”). COVAXIN is a whole-virion inactivated COVID-19 vaccine candidate and is formulated with the inactivated SARS-CoV-2 virus, an antigen, and an adjuvant. COVAXIN requires a two-dose vaccination regimen given 28 days apart and is stored in standard vaccine storage conditions (2-8°C). </span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">COVAXIN has been granted approval for emergency use in India and millions have been dosed to date. The Phase 1 and Phase 2 clinical trials conducted in India reported strong Immunoglobulin G ("IgG") responses against the spike protein, receptor-binding domain ("RBD"), and the nucleocapsid protein of the SARS-CoV-2 virus, along with strong cellular responses. Strong cellular responses are necessary for memory and long-term durability of vaccines. Both the Phase 1 and Phase 2 clinical trials were published in the Lancet. Bharat Biotech is currently conducting a Phase 3 clinical trial in India. Enrollment in the Phase 3 clinical trial is complete. In April 2021, COVAXIN demonstrated positive results in the second interim analysis of the Phase 3 clinical trial showing a vaccine efficacy in mild, moderate, and severe COVID-19 disease of 78%, efficacy against severe COVID-19 disease alone of 100%, and efficacy against asymptomatic COVID-19 infection of 70%. The 78% efficacy result represents a point estimate of vaccine efficacy with a 95% confidence interval of 61% to 88% against mild, moderate, and severe COVID-19 disease. In an in vitro study conducted by the Indian Council of Medical Research ("ICMR")-National Institute of Virology, COVAXIN demonstrated potential effectiveness against the Brazilian variant of SARS-CoV-2, B.1.1.28.2, which contains the E484K mutation found in New York. An additional in vitro study conducted by the ICMR-National Institute of Virology suggested that COVAXIN was effective against the U.K. variant, B.1.1.7, as well as the Indian double mutant variant, B.1.617. These studies suggest that COVAXIN vaccination may be effective against infection from multiple SARS-CoV-2 variants.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is currently evaluating the clinical and regulatory path for COVAXIN in the United States including obtaining Emergency Use Authorization ("EUA") from the U.S. Food and Drug Administration (the "FDA") and, eventually, biologic license application (“BLA”) approval in the United States, as well as the Company's commercialization strategy, if authorized or approved. The Company has initiated discussions with the FDA regarding the development of COVAXIN and EUA. Consistent with the FDA guidance document on EUA for vaccines to prevent COVID-19, the company has submitted key information and data to date (including preclinical studies, chemistry, manufacturing, and controls ("CMC"), and clinical studies) as a “Master File” for FDA review and input prior to a planned EUA submission. The Company is currently waiting for additional data from Bharat Biotech from the ongoing Phase 3 clinical trial for an EUA submission. See Note 3 for additional information about the terms, rights, and obligations under the Covaxin Agreement.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Modifier Gene Therapy Platform</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is developing a breakthrough modifier gene therapy platform to generate therapies designed to fulfill unmet medical needs in the area of retinal diseases, including inherited retinal diseases ("IRDs") and dry age-related macular degeneration ("AMD"). The Company's modifier gene therapy platform is based on nuclear hormone receptors (“NHRs”), which have the potential to restore homeostasis, the basic biological processes in the retina. Unlike single-gene replacement therapies, which only target one genetic mutation, the Company believes that its gene therapy platform, through its use of NHRs, represents a novel approach in that it may address multiple retinal diseases with one product.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company believes that OCU400, its first product candidate being developed with its modifier gene therapy platform, has the potential to be broadly effective in restoring retinal integrity and function across a range of genetically diverse IRDs, including retinitis pigmentosa ("RP") and leber congenital amaurosis ("LCA"). OCU400 has received four Orphan Drug </span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Designations ("ODDs") from the FDA for the treatment of certain disease genotypes: nuclear receptor subfamily 2 group E member 3 ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">NR2E3</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"), centrosomal protein 290 ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">CEP290</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"), rhodopsin ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">RHO</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"), and phosphodiesterase 6B ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">PDE6</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ß") mutation-associated inherited retinal degenerations. The Company is planning to initiate two Phase 1/2a clinical trials for OCU400 in the United States in the second half of 2021. OCU400 additionally received Orphan Medicinal Product Designation ("OMPD") from the European Commission ("EC"), based on the recommendation of the European Medicines Agency ("EMA"), for RP and LCA in February 2021, which the Company believes further supports the potential broad spectrum application of OCU400 to treat many IRDs. The Company is currently evaluating options to commence OCU400 clinical trials in Europe in 2022. The Company's second gene therapy candidate, OCU410, is being developed to utilize the nuclear receptor genes RAR-related orphan receptor A ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">RORA</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">") for the treatment of dry AMD. This candidate is currently in preclinical development. The Company is planning to initiate a Phase 1/2a clinical trial for OCU410 in 2022.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Novel Biologic Therapy for Retinal Diseases</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is also conducting preclinical development for its biologic product candidate, OCU200. OCU200 is a novel fusion protein designed to treat diabetic macular edema ("DME"), diabetic retinopathy ("DR"), and wet AMD. The Company had a pre-Investigational New Drug ("IND") meeting with the FDA in November 2020 and received guidance on IND-enabling preclinical studies to support the Phase 1/2a study. The Company expects to initiate IND-enabling preclinical studies for OCU200 in 2021 and plans to initiate a Phase 1/2a clinical trial for OCU200 in 2022.</span></div>
CY2021Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2021Q1 ocgn Number Of Vaccination Dose Regimen
NumberOfVaccinationDoseRegimen
2 dose
CY2021Q1 ocgn Vaccination Dose Regimen Duration Apart
VaccinationDoseRegimenDurationApart
P28D
CY2021Q1 ocgn Modifier Gene Therapy Platform Number Of Genetic Mutations Target
ModifierGeneTherapyPlatformNumberOfGeneticMutationsTarget
1 geneticMutation
CY2021Q1 ocgn Modifier Gene Therapy Platform Number Of Products
ModifierGeneTherapyPlatformNumberOfProducts
1 product
CY2021Q1 ocgn Number Of Orphan Drug Designations
NumberOfOrphanDrugDesignations
4 orphan_drug_designation
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In preparing the condensed consolidated financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of expenses during the reporting period. Due to inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in these estimates. On an ongoing basis, the Company evaluates its estimates and assumptions. These estimates and assumptions primarily include those used in the accounting for research and development accruals and the fair value measurement of equity instruments.</span></div>
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
44792000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3193000 USD
CY2021Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
151000 USD
CY2020Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
151000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44943000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3344000 USD
CY2021Q1 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P5Y
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
988000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
859000 USD
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
226000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
226000 USD
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
762000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
633000 USD
CY2021Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P7Y
CY2021Q1 ocgn Lessee Operating Lease Number Of Renewal Terms
LesseeOperatingLeaseNumberOfRenewalTerms
1 renewalOption
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
68000 USD
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
48000 USD
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
30000 USD
CY2020Q1 us-gaap Variable Lease Cost
VariableLeaseCost
21000 USD
CY2021Q1 us-gaap Lease Cost
LeaseCost
98000 USD
CY2020Q1 us-gaap Lease Cost
LeaseCost
69000 USD
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1528000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
434000 USD
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
164000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
44000 USD
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1375000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
389000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1539000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
433000 USD
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M18D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.046
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.076
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
163000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
252000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
261000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
269000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
277000 USD
CY2021Q1 ocgn Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
578000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1800000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
261000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1539000 USD
CY2021Q1 ocgn Research And Development Expenses Current
ResearchAndDevelopmentExpensesCurrent
454000 USD
CY2020Q4 ocgn Research And Development Expenses Current
ResearchAndDevelopmentExpensesCurrent
512000 USD
CY2021Q1 ocgn Accrued Liabilities Clinical
AccruedLiabilitiesClinical
115000 USD
CY2020Q4 ocgn Accrued Liabilities Clinical
AccruedLiabilitiesClinical
117000 USD
CY2021Q1 ocgn Accrued Liabilities Professional Fees
AccruedLiabilitiesProfessionalFees
1259000 USD
CY2020Q4 ocgn Accrued Liabilities Professional Fees
AccruedLiabilitiesProfessionalFees
405000 USD
CY2021Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
336000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
963000 USD
CY2021Q1 ocgn Accrued Severance Related Liabilities Current
AccruedSeveranceRelatedLiabilitiesCurrent
405000 USD
CY2020Q4 ocgn Accrued Severance Related Liabilities Current
AccruedSeveranceRelatedLiabilitiesCurrent
712000 USD
CY2021Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
134000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
232000 USD
CY2021Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
2703000 USD
CY2020Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
2941000 USD
CY2021Q1 us-gaap Severance Costs1
SeveranceCosts1
300000 USD
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
2076000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
2057000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
833000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
222000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
9300000 USD
CY2021Q1 ocgn Number Of Equity Compensation Plans
NumberOfEquityCompensationPlans
2 segment
CY2020Q4 ocgn Share Based Compensation Arrangement By Share Based Payment Award Automatic Increase In Shares To Be Issue Percentage
ShareBasedCompensationArrangementByShareBasedPaymentAwardAutomaticIncreaseInSharesToBeIssuePercentage
0.04
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.73
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.42
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
300000 USD
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
100000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-7077000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-3944000 USD
CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
186298122 shares
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
52627228 shares
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.04
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10658317 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12143831 shares

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