OCGN - Earnings call transcript Q3 2019

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Operator

Good morning, and welcome to Ocugen Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session for research analysts and institutional investors will follow the presentation [Operator Instructions]. Please note this conference is being recorded.

I would now like to conference over to Kelly Beck, Vice President of Investor Relations and Administration at Ocugen.

begin. may You

Kelly Beck

morning, I'd quarter recorded, call. will We operator. listeners CEO welcome to business to Earlier you Shankar This with press is Thank of available highlights Ocugen me the on www.com like investor encourage today conference our the this Subramanian. review Sanjay With and ocugen.com. and and which issued section replay days. are our results. Ocugen for a Web Musunuri is call and release third on the you, results CFO, to being we Web financial our Dr. also available be approximately the press a site of release, Chairman XX site

on for you the constitute Harbor Reform make outlook, timeframe our terms that various timing future begin to related we securities the including and and Before product such results remarks statements and raise forward closing, capital product the our including asset with Safe development statements trials candidates. to the remind today pursuant provisions to of of XXXX, litigation private financial our formal Act preclinical ability I'll the our ability looking we NeoCart our any candidates, acceptable clinical and to for associated such sale our close product of to plans studies us, comments,

filed the risks section available Ocugen performance These Incorporated the and future of in are and words forecasts, meaning. statement our registration as form as uncertainties. and risks Securities with guarantees intend may, such and SX, that in such Web other on of cause the may amended, will, believe, site. expectations to Commission XXX-XXXXXX risks risk number can the not by and to materially looking uncertainties Any are upcoming, and anticipate, forward Exchange involve subject from statements similar should, on by described plan forward SEC's These are looking actual results be and expect, certain factors differ estimate, words, and registration identified statements

as Any information and day new we update provide of this on on on this of we events only information, may November any obligation forward XXXX or future we conference call, undertake otherwise. call no account this to is of the provided statements looking make call X,

In pro financial provided is and that may addition, positions may operating to information results any not audited Actual differ of project company. or forma purport the be or preliminary does materially. financial results

Chairman will I our and the Musunuri. over now turn Shankar call to CEO,

Shankar Musunuri

you everyone. Good Kelly. thank you, this morning, joining Thank us for And morning.

with like as debilitating needed a create take eye for As this this to conference the and would opportunity diseases. treatment the mission, therapies new I public pipeline to about first is our to call company, opportunity our our share you programs of more

Sanjay recently value have merger quarter financial before September. I'll team review management our shareholders. the pipeline will advisors The have our completed been entire progress made creating since for transaction we on results merger discuss the strongly and then and in recap reverse our our our reverse and long focused term our current Q&A.

to address therapies and Our company rare innovative mission to eye a was underserved upon develop founded diseases.

unmet of disease autoimmune for allogeneic severe a to marrow XX% that advanced occurs critical most oGVHD up short. ocular need. the of program and medical is for host is treatment transplantations OCUXXX oGVHD or chronic the versus represents Our in disease graft bone

so in and the much who which, of for directly treatment. and feel their will described already treatment. debilitating the FDA rolling which into pain quality no have there XX,XXX like eyeball be there oGVHD. to approved your patients These leading disability suffering severe like By in diminishes it XXXX, is putting Of patient and significantly your must cancer cancer life and pain sauce many patients cases. disease imaging experienced undergone this is daily sand, patients eye activities that restricts in discomfort, from One their hot expected that

loss to to this For lead irreparable and patients, damage can the ocular disease some vision surface.

Our product, proprietary OCUXXX, is brimonidine formulation. OcuNanoE in developed X.XX% our nanoemulsion

to tissues, surface drugs and formulation provide eye more to deliver the was overall to relevant oculuar drops. to ocular efficiently protection Our potentially compared efficacy designed OcuNanoE conventional increase

We drug X are we company patient only clinical population. to to this also for in the study the first oGVHD, a are and from have first FDA Phase company the orphan received designation and conduct

focusing study of in patients study discomfort treatment Our and ocular day ocular endpoints oGVHD. Phase masked of placebo randomized, is symptom with This X double an on sign. XX and has co-primary controlled redness the study

they is analog or he amount ocular on a patient the X endpoint XX, a of to Bulbar rate Redness score. visual pain endpoint XX visits symptoms The on discomfort ocular recorded of visual past and scale. on scale. is she will the by on clinic, When hours this analog is a measured based felt have the over a redness signed Our the validated scale

the in of severity the is the which eye, redness of amount indicates the measure experiencing. will patients' physician information patient As the

are enrolling in to randomization. patients We a X XX X

is time. to and more planned this than at patients of placebo. two conduct in specialty endorsed we every are when for are in receives of reach which point one OCUXXX, a sample statistical receive enrollments So bone active patients the We study. we marrow to to These referred transplant review patient that size plan that XX% ensure accurate, the the XX% centers several are

have half expect We top to available of in data year. next line second the

gene genes gene or hormone our have the and to function are [Technical regulating within Now functions believed which very vital program. modified a nuclear about product our treat many receptor therapy to play master are gene I Difficulty] called would the excited them, therapy role are single to we that restore to variety programs, of diseases retina, in We're retina. call normal retinal gene, genes inherited able potential like to a about the therapy talk at like as in

genetic of diseases retinal product. and one treat function. models retina the Multiple opposed this to approach What is Haider. of the that our have that defects expression research the master function, or to have within School Harvard modifier, at Institute multiple means as stabilize Dr. animal of with Massachusetts and these their master current may the disease one Medical pioneering shown one we This potential gene, Research Neena based genes Schepens cell demonstrating functional Ear, at technology can retinal the modifier on developed normal and Eye of Eye was restore cells, treating

which to receptor mouse of candidate functional six target delivered in first a gene using OCUXXX. announced and X/Xa product OCUXXX cells NRXEX, orphan FDA; different to initiate nuclear study is designations progression a on vector. NRXEX to clinical delivery cells in retinal of two disease mutation-associated XXth, reversed diseases, structures. gene, received a for OCUXXX an of and already the with OCUXXX Our model CEPXXX our of therapy platform by modified second from was with copy treating hormone XXXX. In retinal patients restored patients has the diseases; We the the drug retina consists one one, retinal treating September mutation-associated AAV Phase for NRXEX retinal plan retinal diseases.

its for This developments this us. we CanSinoBIO on collaboration, strategic also partnership resources. be to On will XXth, supplies, within including maintains associated greater September costs. the support Under all of announced all for clinical CanSinoBIO responsible CanSinoBIO option our manufacturing capital provides Ocugen program. of flexibility and CMC partnership commercial the manufacturing strategic this with development

the high the China Greater we digit to net CanSinoBIO for importance territory, rights receive the royalties with state-of-the-art us agreement, in recognize reliable and clear a requirements. sales. provided have this single commercialization. We advance therapy clinical with world-class with will clinic to capital team of manufacturing CanSinoBIO In and provides trials commercialization and to a partnership on the reduced and reach believe We and facilities gene with our significantly development this processes partnership path resources manufacturing

such as X disease stress is our caused imbalance dry OCUXXX, nuclear Currently, utilizing modifier people RORA genes an the is platform gene affects treat the treatment in in in million for therapy Dry about metabolism. the to multiple vector therapies lipid hormone AMD. AAV a oxidative disease, complex no of and there program second by are which this receptor delivery platform with approved U.S. inflammation, pathways, AMD The

trials can master many dry multiple of will the pathways RORA that multiple program gene, associated AMD successful pathways and the known be doing to multiple It reverse regulates survival preclinical this the pigment retinal AMD. with in is control believe past, to photoreceptors dry Currently, able disease. retinal due Experts so, gene, inability layer this not has the control and a by being In increase associated disease is of potential dry that pathways with development. that degeneration pathogenesis. slow AMD. to products It or were associated clinical with to target progression could the it

in the of Wet-AMD wet-AMD. and retinal leading our biological growth wet blood Now degeneration, U.S. OCUXXX. the of on patients AMD, cause new caused suffer infiltration I or those approximately retina, our over in XX macular in some leaky threatening is that age is million the U.S. form the Europe. a on and million will wet-AMD. have by approximately estimated program, has It disease age and XX been and X.X blindness move of of from to the focused severe of site the related patients program OCUXXX is vessels in people abnormal

explored approach a treatments, models. ocular a This a superior we preclinical molecules, and other program mice occurring first diseases. macro in integrins treatments, been choroid angiogenic in such target protein company based demonstrated consists are and integral and anti-VEGF believe to in fusion actually our areas is transferrin. the lesion of studies fibrotic therapies has for variety disease for as on naturally We disease, cancer, compared neovascularization of focus OCUXXX, wet-AMD CNV targeting tumstatin laser-induced OCUXXX, and autoimmune rats two efficacy reducing to molecule

these that OCUXXX to significant in the action suboptimally can This believe Existing in to patients. disease diabetic be have anti-VEGF enter macular treatments to retinopathy, a its with majority into these potential effective for a targeted is development and diabetic We impact patients deliver highlight these for preclinical are in effective of program to which with also in of mechanism OCUXXX a the clinics modification distinct XXXX. and edema majority patients patients. results We believe globally.

focusing therapy with potential pacts proposition long-term. the surface the biologics, see, years a treated diseases diversified and preclinical As has programs, that clear clinical diseases with we can retinal along excited development gene value We ahead. the about in ocular and driving shareholders both with allow oGVHD. be serve, those you which it am of ophthalmology key points programs development, and developed those and have on our believe to value portfolio to our these can and the may in platform Ocugen we with pipeline inflection us bring for patients broaden I in short both the with

our and quarterly the merger to results. with to turn call the I'll Sanjay? warrant over Sanjay financial our Now regarding update Histogenics, restructuring, an recent provide

Sanjay Subramanian

and Thank good Shankar you, morning everyone.

the securities you repayment under the financing September OCGN changed We terms June Immediately after of to merger take net As to bit announced placement We aware, transaction million merger detail. proceeds Friday, our to the pre Histogenics we XXXX. premerger I'd a describe what XXth, few on million expenses with the on and more began of loans. closed merger, the XXth. approximately our this $XX a to factoring minutes or of and see prior do agreement trading of Monday, to purchase bridge from like Ocugen. September in $XX.X are as refer fees, company symbol and in completed financing, financing we we a private the under

of we issues our premerger the approximately X.X At the common shares stock investors. million to financing, closing new of

stock stock million Xth, common brought common new additional as we investors. XX.X approximately X.X This shares. our issued to million of September October to shares. million On outstanding Our of an XXth stock common these XX shares total was outstanding

foundation A, financing, an In to on warrants three were share Series of will October have million initial the and the Series C We A Wednesday or amount of to our financing as excluded million. the of nonprofit organization re-closing research part Series exercise these which addition, $XX we Xth; from $X.XX issued to with on Series and November on an financing which XX, per amended X.X Xth sets equity adjustment. This warrants. price investors, warrants, These XXXX premerger we warrants May B issued in before years. of reflect five the anti-dilution a be term up our amended

following The price warrants treating that of are Series they The Series of share $X.XX. the period, completion was exercise November the an B which statement, until have the a exercisable amended, effective not also warrants B so effectiveness were day Xth. XX per registration

the Additionally, first every will the the start thereafter. November for period now warrants on XX of XXth. days reset again days trading will nine These reset

the prices is volume period, that day time. re-priced the investment During of the based during of average this average two XX on XX% weighted lowest

receive the shares, is to making of Series the done warrants we the warrant million any cash restructuring November exercised on November shares payment million view outstanding to B the shares. volume XX to investors were during of to X.X amended up stock was event The XX million XX XX.X five trading or to stock. trading without our for per payment been with equal any shares of Concurrent were Xth approximately up the have total warrant in XX maximum weighted warrants shares the price the warrant. share million as The permit warrants into C to of Previously, share common Ocugen million common Xth, the cash shares. to stock issue exercised warrants life any less million Series $X.XX in may of to would pursuant than days on these exercise upon common bringing total have of for

XXth XX% these the their sales of Ocugen common not more to shares have single November day. Ocugen's period. of will XX, agreed on Finally, than This January of Series composite B on representing of restriction from sell XXXX they And investors of they composite volume common volume trading reset XX% trading on be may limit trading stock day. XXXX, warrant entire Until stock Ocugen's November stock to given date. any any X, until such the covers common limited the

deadline. Histogenics. entered an that Histogenics acquired NeoCart a entered the with and into now for NeoCart Medavate in asset September, asset amendment $X on we entered provide second the the purchase into million. price amendment an into from the sale closing assets now to agreement to Ocugen Corporation May XXXX purchase of like to I'd its subsequently in increase update extending

requires single-digits the the its on the when closing obtains And calendar of pay sales second the of any price will net financing. required in closes. royalties for to first XX% increasing This amendment until by in the Additionally, Ocugen low NeoCart to part product. occur Medavate transactions up as now month amendment, each the second results delay Medavate purchase the

the price has $X.X you As million. and of November Xst, increased purchase

this productive with asset to regarding discussions We have continue of sale. Medavate the closing

December restricted with totaling provide of results cash will ended $X.X now quarter equivalents cash, XXXX. the the for million million to financial XX, $XX.X quarter. I an overview We key September and XXXX on cash compared XX, at

quarter Our development compared of same XXXX to expenses $X.X research and for were $X.X million third the for the million XXXX. period in

expenses million premerger issued currently to third were compared the administrative with quarter have and exercise operations our for $XXX,XXX the for pursuant shares same the with as the XXXX. million shares the the XXXX mid-XXXX. additional fund of restructuring, XX We million Xth, cash approximately in and have financing we And warrant outstanding. to XX with to outstanding. $X.X ended November sufficient quarter shares period General of into We warrant

complete gene to with program. for continue to patients therapy development modifier oGVHD and Phase of expect X time, we which our our trial During clinical

additional We capital will the reap need future. in to

collaborations continue explore our value to Ocugen to or shareholders. and provide that We partnerships

the With questions. that, for call up we will open Operator?

Operator

question first H.C. comes Our instructions] from Rama Wainwright. Swayampakula [Operator with

Swayampakula Ramakanth

have So questions. I two

is this -- pathway the this to oGVHD understand drug of the you are to day to to Phase start And the the X So through? obviously, held on of time Xdata. figure also -- at and program, of potential at a to third University of regulatory [oGHD] the little understand out like part points you -- I'd a bit the trying to the had that taking which especially trying the off, trying regarding study the some on OCUXXX event more And Chicago. which great we was Phase questions

Shankar Musunuri

to programs ocular progressing OCUXXX patients is with Our well, GHD in continues enroll patients.

when the first on statistical X ever we are to when That to first study this we XX% Phase are of out Since in patients We half review means track of reach year. -- in treatment. those are of reach And for agreement to the we through company go more we line XX% of was in results on our trials XX% have population, a half data have the next of on second client to conduct next and worked size with that the to enrollment ensure any available appropriate. review clinical an subjects a have enrolled those have blinded are on expect available sample the we the FDA clinicaltrials.gov, first top details year.

like is every expertise organized again, as usually was Chicago from once Medical to in and Dr. would ophthalmologists is out by the Coming a and great to this a attendees conference, which of in is oGVHD And conference, takeaways Key specialized sponsored are, it often conference on point among some NIH. the I Illinois researchers. School takeaways as systemic this at James. oGVHD, organs. And And well yes, looked year an held with It's economic from other back again include University that. it's by oGVHD oncologists is providers as focus other GVHD, conference.

is medication work Prior developed, Patients few are as team. as are interdisciplinary in ophthalmologists enrollment Clinical being be used trials and markers in approach where oGVHD tremendous a no could for this also oncologists slow. in requires future pain number an there clinical is indication. are which approved and trials.

the discussion about conference, FDA again, clinical itself the some disease was in a challenges trials. based attendance at conference and there and was once on general and that the complicity for there and So a approaches session, the general

alignment end this drug points, in orphan animal the have the designation, of principles. the with based of Obviously, our what for shared And number FDA designation needed, studies approval We benefits in FDA X they indication. from on meeting, during discussed around program drug dialog prior about product. do appropriate orphan is Phase general having

XXX(b) We (X) pathway. also have

Swayampakula Ramakanth

this people question that to which of at obviously, the generic brimonidine, into generic the I or investors sort actually mean, have otherwise, formulating still the such possible like, on brimonidine (X), utilize time, does, your are you contrary? your fences have OcuNano the probably brimonidine, XXX(b) for which Is can I system. available question is. will it formulation impact OCUXXX? the with about is in But what ask generically at not some is an folks emulsion proprietary point you same Talking

Shankar Musunuri

the which is again, product Starting in in that product, is concentration. as brimonidine efficacy at patients with pointed or OcuNanoE normal also higher proprietary to generic in compared the at available market eye And shown available are as not with in out, is emulsion ocular drops. OcuNanoE formulation dose superior currently formulation. has X.XX% is for benzalkonium chloride, formulation the oGVHD. -- available ocular irritating And It's which be animal our and can head-to-head diseases, you the our surface studies we such in market

We treatment, our portfolio, They patent also major look strong And cover OcuNanoE including brimonidine well into, formulation to of have typically when you there as as related IT patents the are [AB] have covering you factors. things method a multiple use proprietary formulation. criteria. our and cover generic,

molecule? In controlled disease same? gone controlled the Is So is this was clinical case, through GVHD, a going molecule. approved we ocular for actually indication? dosing into the for look pro -- And forma. You generic obviously study Yes, same it specific and are it it’s for the a the it's clinical through is has trials not.

three been currently, same, a we times and day. dosing it use the used it's day other the medication And with a regimen twice

substitutions take level. pharmacies restrict to that pharmacy at So the also any will

So think therefore, strong sum have to again up, to I IT. we just address it

not for ocular clinical as in a chloride superior for irritating, drops. everything like GVHD the have and OCUXXX. are drug [indiscernible] in patients studies eye such -- very be preservatives that, doing indication these with formulation, could get specific product, which We specific which to improves we controlled benzalkonium and do have We

Swayampakula Ramakanth

this then on study how initiated trying soon? you're are you Could CanSinoBIO. especially big study clinical this why or transaction the And us real So even a as to at understand a one, going meaningful not is to at is why basically point? transaction for this clinical you help into get or in a when

Shankar Musunuri

intensive As step the for produced viral of into manufacturing know, manufacturing entering partner number current is advancing gene demand. can continue state-of-the-art this quality in we capital gene to capabilities supply space, in This limiting a and high increase product gene of perfect With rate meet increasing requires start a demands and limited is program clinic. had therapy expertise. needs. organizations the manufacturing very CanSino there a who all vectors who commercial therapy specialized can manufacturing was contract become therapy complex, meet We companies global fit. with to

in China as it we have rights key on of for to supplies; retain receive granted costs China on the have before, royalties clinical this where will receive the low they the single toxicology of digit high reliable responsible fund we are; on from and rest In rest [indiscernible], and commercialization CMC rights the clinical mentioned sales takeaways all manufacturing the be world. The path I will we royalties, development with world; Greater clinic; the ensures will partnership CanSino and single for Greater commercialization for associated CanSinoBIO we studies. CanSino digit in sales focusing

cash this So our greater a capital overall resources extensive flexibility runway. and partnership with provides

Swayampakula Ramakanth

comes with for couple their to recent Luxturna. questions. And when you eye especially we mind Spark gene therapies is of The diseases, success and one know inherited think more next with

think should to and inventors regards technology the how different is think Ocugen with compared we how Spark? about Luxturna or similar your So when

Shankar Musunuri

between Spark approaches is, Good such gene the you take difference Luxturna, gene and gene followed current again, if our about modified ours platform. modifier the Once by current question. and gene therapy we're The Luxturna pretty is, therapy platform excited other companies. as our the therapies, therapy

significant targeting a new scratch, you're and a are This genetic product therapy the get for supply studies when IND they're the disease, to address process So specific manufacturing one disease. to be targeting developed including using the of disease, enabling means capital to each clinic. one to from new clinical time requires gene you product mutation. This because and has

hormone different nuclear the address platform, genes the to the normal to and cell these to function therapy with potential retina gene retina. receptor functions many restore modifier our With have

develop the can So development diseases, additional what diseases. product you it have can because for studies have process one is for quickly many the product. means product From already some This clinic, product, you you one versus retinal data in one more to and the product we have manufacturing clinical safety disease can once that completed on will address perspective, completed one multiple you product is toxicology move product product so the same versus versus one study the diseases. the

Swayampakula Ramakanth

Yes, that's great. That's can really time -- it energy really saves money, and a that. lot of I time, see

recent what that deal? that tell about, Regarding a do do management, trying warrants you to of you to did are have like other to announced you Why peace restructuring you there. the when the this investors folks what two questions as restructuring on need and is

Sanjay Subramanian

appreciate that question. I I'll that. Thanks. take

this lot a think in investors' I is mind. of

want take to behind the opportunity rationale to So this this we expand warrant restructuring.

the of lot management and it. about of million B the C that As capital we Series warrant. if the the and And had overhang a place, three around for were warrants. Board Series warrants Series and concerned we within that. lot probably which warrants that's any were also And financing, Series days exchangeable A, part shares stock during the of C had five of XX X:X the drops investors, pre-merger questions below $X.XX in recall, structure as you was concerning a the our And life warrants for

able Essentially, some valuation these headline the investors, shares. the in the potential of of million warrants, restructured the we discussions our to having XX were really from previously and the just million And warrants. exchangeable C warrants was been which by XX restructuring XX are reduce Series have doing million is there we for that with successful productive that we we to So shares. were

Apart in foundation, whereby restructured warrants. raise not $XX a anti-value also could are which we under A provisions us profit these any we more give from Series financing up our from for triggering that, to organization a million to warrants or flexibility,

shares, warrants. our But million we the to between minor Series to structure a was tweaks essentially, million shareholders. our least know, possible that for potential to a all structure, new XX other shares dilution $XX previous now in is previously anywhere You dilution, XX million to the reducing which B is positive a we reduction few had are the XX from at also from believe which of our we million huge a

Swayampakula Ramakanth

One make $X.X the of the Sanjay, to Is housekeeping last about sure talked million right? end you not I just million quarter. this the want agreement asset does that the may. $XX.X of with question, I assume if Medavate. at purchase

Sanjay Subramanian

quarter before, we our of into quarter have is Correct. we would by that that sale, cash we that as mentioned The purchase million. The approximately sufficient end operation any I've to delay of is the end asset which the the continuing closings mid-XXXX. that the had value calendar XX% not include in increase the It of fund each assets for at third And to month. are $XX.X price of cash does that the have Medavate as XXXX with close. held we discussions

development oGVHD gene patients we of During trials therapy clinical with to our which time, X program. and for continue expect Phase compete our to modifier

Operator

from question next comes Chardan. Our with [indiscernible]

Unidentified Analyst

the of best for out Is of helping could terms be questions in Chicago. GvHD enrollment? things coming increase to that you've there that meeting you, in helpful learned think you terms the one of in rate Couple of practices

Shankar Musunuri

I population, tough cancer. this think before, with is a as difficult mentioned I dealing patients patient

those oncologist best allogeneic practices patient closely care the our is up Many need, in clinics. interdisciplinary each the of for marrow of So transplant the work specialized who these ophthalmologist of in included academic morrow centers, centers taking And trials. what clinical transplants, are are they bone bone we approach. a do the with

the clinics patients, the of are centers thing, the treating who trials over that's included first are these company and in people we clinical And our them between those many have interaction the so contacted today. and specialized XX and

ophthalmology which And some conferences contact have information and city centers. in reaching transplant putting second And place the get them the specialized And are patients. reaching and out to out thing taken we to marrow bone to there. of approaches, directly measures are there and obviously, also the is out we some

For example, if in those have trial there nearby -- referred center these in enough specific centers bone the an we ophthalmologists also contact the bone doesn't marrow to. encouraging to of morrow commodities, some some clinical investigators' patients of cities the be can the are is for where

and So as bone the the process. is and do these conference in working can different again, we ophthalmologists. GvHD cGVHD, than morrow much educate seen, it's to cancer through difficult completely have the are we centers oncologists as once All these is on you a based as trying ocular

Unidentified Analyst

of And burn for be relative to should the in Sanjay, of thinking next in over your just couple we cash based expenses and on what you that just quarters QX. what terms reported How recorded? about you trajectory

Sanjay Subramanian

Yes, sufficient in public And expenses mid cash to will an be those we the financials, for until that pretty kind G&A in an a our that for and we form, prior And G&A indication had our be be year, what of upcoming reported go expenses, R&D could will that we our in. the of that G&A as quarters. representative increase costs relative in company, factor -- consistent mentioned, as our are broadly of you I which to have XXXX. to

Unidentified Analyst

where R&D recruitment, for the data get meaningful assessment possible and you are to a to do as the And expect from cost of increase currently Phase additional interim in way GvHD X for the you standing? we

Sanjay Subramanian

complete for patients cash We oGVHD. have with trial clinical X to sufficient the Phase

half well. is of the trial enrolment by year. next have will second very top-line for results this Our progressing we Phase And X

Unidentified Analyst

that the date up a Is currently And with restructuring for Medavate, termination them stop come another hard of just to there the funding? agreement. just on question latest

Sanjay Subramanian

close incentive The Medavate, close that They investors financing. soon way an structured possible. is our with set to their actively working for to we their as with are we amendment as them up

have we of this buyers' month have way The the not NeoCart productive, updated. if every for is them and very terms they're discussions the been will close, have deal and in but in been interest put increase the we us then in-close And keeping deal delay. transaction, the price will XX% didn't out other freak asset. does hard with We this discussions we stop structured a

Operator

to Kelly. like I call showing to further the And Instructions] [Operator time. turn am any this at over I'd questions back not

Kelly Beck

everyone join Thanks taking for time morning. the call you. this Thank to this

debilitating we for we generate to Here at you. coming certain look all patients for of suffering and in shareholders. term therapies fundamentals We providing our further believe are to our the breakthrough developing forward value strong diseases. on Ocugen, months. update are Thank long eye expect We from committed

Operator

Thank and gentlemen, conference. today's this you. concludes Ladies

your You for lines Thank may now disconnect at you participation a and time. day. have this wonderful your

Ocugen (OCGN) 8 Nov 192019 Q3 Earnings call transcript