Ocgn.O

OCGN.O exhibits a distressed capital structure characterized by negative total equity of -$12.2 million and total liabilities of $55.7 million exceeding total assets of $43.5 million. The company carries $27.5 million in long-term debt, resulting in a negative debt-to-equity ratio of -2.26. Liquidity is assessed as medium risk, with operating cash flow deeply negative at -$57.0 million, indicating a heavy reliance on external financing to sustain operations. The current ratio is not explicitly provided, but the negative equity position suggests limited buffer against short-term obligations.

Profitability metrics are severely negative, with a net income of -$67.8 million and an operating income of -$62.9 million. Return on assets is -1.56%, reflecting the inability of the asset base to generate earnings. The return on equity is reported as 5.58%, a mathematical artifact of the negative equity base rather than a sign of healthy profitability. Without cohort median data for direct comparison, the company’s financial performance is indicative of an early-stage or turnaround biotechnology firm burning cash to fund development or restructuring efforts.

Revenue concentration is extremely high, with total revenue limited to $4.4 million. No segment or geographic breakdown is available, implying that the company’s operations are likely focused on a single therapeutic area or product candidate. The lack of diversified revenue streams increases the company’s vulnerability to clinical trial outcomes or regulatory decisions.

Growth trajectory cannot be assessed due to the absence of historical period data. The current financial snapshot shows a stark contrast between the $4.4 million in revenue and the $67.8 million in net loss, suggesting that the company is not yet commercially viable or is in a phase of significant operational restructuring.

Risk factors include medium liquidity risk and low dilution risk, though the negative net cash position after subtracting total debt is a key flag. The company’s negative equity and high debt load pose significant solvency risks if cash burn continues without successful capital raises or operational improvements.

Recent events include analyst coverage with a mean price target of $11.43 and a median target of $10.00, suggesting potential upside from the current market price of $1.41. The mean recommendation is 1.86, indicating a strong buy consensus among analysts. News observations indicate a data reconciliation event, but no specific operational news is disclosed.

Revenue $1.5M, +3,5% YoY; Operating income −23,0% YoY.

• ▍Revenue $1.5M, +3,5% YoY
• ▍Operating income −23,0% YoY
• ▍Net income −24,9% YoY
• ▍Free cash flow −28,6% YoY
• ▍Net margin -1250.9%

Operating income −22,8% YoY; Net income −27,6% YoY.

• ▍Operating income −22,8% YoY
• ▍Net income −27,6% YoY
• ▍Free cash flow −36,4% YoY

Revenue $1.8M, +54,2% YoY; Operating income −33,0% YoY.

• ▍Revenue $1.8M, +54,2% YoY
• ▍Operating income −33,0% YoY
• ▍Net income −54,6% YoY
• ▍Free cash flow −49,2% YoY
• ▍Net margin -1144.5%

Revenue $1.4M, +20,3% YoY; Operating income +10,7% YoY.

• ▍Revenue $1.4M, +20,3% YoY
• ▍Operating income +10,7% YoY
• ▍Net income +3,5% YoY
• ▍Free cash flow +8,9% YoY
• ▍Net margin -1073.5%

Revenue $1.5M; Operating income -$14.5M.

• ▍Revenue $1.5M
• ▍Operating income -$14.5M
• ▍Net margin -1036.5%

Revenue $764.0k; Operating income -$13.8M.

• ▍Revenue $764.0k
• ▍Operating income -$13.8M
• ▍Net margin -1816.8%

Revenue $1.1M; Operating income -$13.3M.

• ▍Revenue $1.1M
• ▍Operating income -$13.3M
• ▍Net margin -1141.7%

Revenue $1.1M; Operating income -$15.4M.

• ▍Revenue $1.1M
• ▍Operating income -$15.4M
• ▍Net margin -1339.2%

Revenue $4.4M, +8,8% YoY; Operating income −14,9% YoY.

• ▍Revenue $4.4M, +8,8% YoY
• ▍Operating income −14,9% YoY
• ▍Net income −25,5% YoY
• ▍Free cash flow −18,3% YoY
• ▍Net margin -1537.4%

Revenue $4.1M, −32,8% YoY; Operating income +16,4% YoY.

• ▍Revenue $4.1M, −32,8% YoY
• ▍Operating income +16,4% YoY
• ▍Net income +14,3% YoY
• ▍Free cash flow +23,9% YoY
• ▍Net margin -1333.0%

Revenue $6.0M, +142,6% YoY; Operating income +26,4% YoY.

• ▍Revenue $6.0M, +142,6% YoY
• ▍Operating income +26,4% YoY
• ▍Net income +27,3% YoY
• ▍Free cash flow +19,8% YoY
• ▍Net margin -1045.0%

Revenue $2.5M; Operating income −54,6% YoY.

• ▍Revenue $2.5M
• ▍Operating income −54,6% YoY
• ▍Net income −48,7% YoY
• ▍Free cash flow −53,3% YoY
• ▍Net margin -3488.9%