Ocugen rises on Mideast licensing deal for experimental blindness gene therapy
OCGN•Ocugen shares rise on Middle East and North Africa licensing deal
Shares of biotech firm Ocugen rose 2% to $1.49 after the company said it agreed to license its experimental gene therapy OCU400 for retinitis pigmentosa, a rare inherited eye disease that causes progressive vision loss, in the Middle East and North Africa.
The deal with Roots Pharmaceutical and partner Al-Dhow International Holding includes up to $4 million in upfront and early development payments.
Ocugen said it could receive up to $255 million in sales milestone payments, a 22% royalty on net sales and will supply OCU400 to the partners.
The company said it expects to finalize the agreement within the next three months.
OCU400 is being tested in a late-stage study, with data expected in early 2027 and a regulatory filing planned thereafter.
As of the last close, the stock was up about 9% year to date.
