Ocugen Inc., a biotechnology company specializing in gene therapies for blindness diseases, has released its financial results for the second quarter of 2025. The company reported total operating expenses of $15.2 million for the three months ended June 30, 2025, which included $8.4 million in research and development expenses and $6.8 million in general and administrative expenses. This marks a reduction from the $16.6 million in total operating expenses for the same period in 2024, which included $8.9 million in research and development expenses and $7.7 million in general and administrative expenses. Ocugen reported a net loss of $0.05 per common share for the second quarter of 2025, compared to a net loss of $0.06 per common share for the same period in 2024. In terms of business updates, Ocugen has initiated dosing in the OCU410ST Phase 2/3 GARDian3 pivotal confirmatory clinical trial and is actively dosing patients in the OCU400 Phase 3 liMeliGhT clinical trial, with plans for a 2026 Biologics License Application $(BLA.AU)$ filing. Additionally, Ocugen has entered into a binding term sheet with a Korean pharmaceutical and healthcare leader for exclusive Korean rights to OCU400, with upfront fees and near-term development milestone payments totaling up to $11 million. This regional partnership strategy aims to preserve Ocugen's rights to larger geographies while generating returns for shareholders.