Ocugen Licenses OCU400 Gene Therapy to Roots Pharma for MENA, Up to $259M in Milestones
OCGN sits 56% above its 52-week low of $0.931.
Summary
Ocugen signed a binding term sheet to license its OCU400 modifier gene therapy for retinitis pigmentosa to Roots Pharmaceutical in the MENA region. The deal includes up to $4 million in upfront and near-term milestone payments, plus up to $255 million in sales milestones and a 22% royalty on net sales. Ocugen will also manufacture commercial supply. This is the first regional partnership for OCU400, validating the therapy's commercial potential outside the U.S. The definitive agreement is expected within 90 days, with Phase 3 topline data due in Q1 2027.
At the time of this announcement, OCGN was trading at $1.45 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $497.6M. The 52-week trading range was $0.93 to $2.73. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.