v3.26.1
Subsequent Events
6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On July 10, 2026, the Company entered into a binding term sheet with Roots Pharmaceutical to negotiate and execute a definitive license agreement granting exclusive rights to develop and commercialize OCU400 for retinitis pigmentosa in the Middle East and North Africa (MENA) region. Pursuant to the term sheet, under the license agreement, the Company is expected to receive upfront license fees and near-term development milestone payments of up to $4.0 million, sales milestone payments of up to $255.0 million, and royalties equal to 22% of net sales in the licensed territory. The Company is also expected to manufacture and supply commercial quantities of OCU400 under a related supply agreement. The definitive agreements are expected to be executed within approximately 90 days following the execution of the term sheet.