Ocugen (OCGN) Noble Capital Markets June 2026 Emerging Growth Virtual Equity Conference summary

Market overview and unmet needs

• Dry age-related macular degeneration (AMD) affects 90% of over 200 million global AMD patients, with limited therapies outside the U.S. and a large unmet need.

• Wet AMD, representing 10% of cases, has a $10–20 billion market with multiple established therapies.

• Geographic atrophy (GA) is the late stage of dry AMD, leading to debilitating vision loss in older adults.

Product differentiation and clinical data

• OCU410 targets all four key disease pathways in GA, unlike current therapies that focus mainly on the complement system.

• Phase II data showed a 31% reduction in lesion growth in one year, outperforming existing therapies that achieve 22% over two years.

• Therapy is potentially a single, lifelong injection, with no severe adverse events reported and 20% of patients showing no lesion growth at optimal dose.

• Modifier gene therapy approach creates cellular homeostasis, potentially setting a new standard of care.

Clinical development and regulatory strategy

• Phase III global trial for GA is designed with about 300 patients, robust endpoints, and adaptive design, aiming for high statistical power.

• Primary endpoint is lesion reduction; secondary endpoints include ellipsoid zone preservation, correlating with visual function.

• Regulatory alignment with FDA and EMA is expected soon, with trial initiation planned for Q3 this year.