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Subsequent Events | 6 Months Ended
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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.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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