In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. More importantly, the 5-star analyst added, COVAXIN also induces comparable levels of neutralizing antibodies to those in human convalescent serum," which, the analyst believes," bodes well for the success of the ongoing Phase 3 trial in India.. Create your Watchlist to save your favorite quotes on Nasdaq.com. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Buy These 2 Stocks in 2023 and Hold for the Next Decade, 2 Stocks That Are About to Make Their Shareholders Richer, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, the company's fourth-quarter conference call last month, Copyright, Trademark and Patent Information. By the beginning of March, the stock was still trading at 45 cents as news of the coronavirus spreading in China prompted concerns about a U.S. pandemic. Ocugen In 2021, Beyond: Optimism about Covaxin coupled with massive short squeezes in a handful of popular social media stocks sent Ocugen shares skyrocketing up to as high as $18.77 in February 2021. Guys, theres no revenue here! Instead, this appears destined to join the long list of failed biotech startups. It is very important to do your own analysis before making any investment. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Its certainly possible. These options will be cheaper than owning the stock itself. CEO Shankar Musunuri stated that he was "pleased to say" that Ocugen was in discussions with the FDA about the data it had submitted for the pediatric EUA. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. Copyright 2023 InvestorPlace Media, LLC. Even though Ocugen did raise $25 million in a private placement, the story behind OCU300 clearly was not enough to support an initial public offering on its own. MALVERN, Pa., April 28, 2021 (GLOBE NEWSWIRE) -- Ocugen, Inc. (Nasdaq: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness. As of this writing, Vince Martin has no positions in any securities mentioned. Under the terms of the agreement, Ocugen is entitled to 45% of the profits from the commercialization of Covaxin in the U.S. and Canada. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. It's hard to say for sure. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. Lorem ipsum dolor sit amet, consectetur adipiscing elit. To make the world smarter, happier, and richer. The Ocugen deal is a way to salvage some limited value. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. That doesnt mean success is guaranteed. An unprofitable biotech that focused on commercializing therapies to cure blindness prior to the present pandemic, Ocugen ( OCGN) stock took on a new life on December 22, when it announced. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. 86% of retail CFD accounts lose money, Benzinga's Top Ratings Upgrades, Downgrades For March 1, 2023, Ocugen upgraded at Chardan citing attractive entry point ahead of catalysts, Analysts Are Bullish on These Healthcare Stocks: Theratechnologies (THTX), Ocugen (OCGN), Ocugen (OCGN) Gets a Buy from H.C. Wainwright, Mizuho Securities Sticks to Their Buy Rating for Ocugen (OCGN), Ocugen (OCGN) Q4 2022 Earnings Call Transcript, Why Catalyst Biosciences Shares Are Trading Higher By 105%; Here Are 20 Stocks Moving Premarket, Registration on or use of this site constitutes acceptance of our. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 1125 N. Charles St, Baltimore, MD 21201. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. Written by Investors need to understand the risk profile here. But it does mean something. The Motley Fool has no position in any of the stocks mentioned. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. For priority reviews, the timeline for an approval decision is reduced to six months. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. Copy and paste multiple symbols separated by spaces. When the market crashed during the U.S. pandemic outbreak in March, shares of vaccine makers understandably soared as work began on developing vaccines to fight COVID-19. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. *Stock Advisor returns as of November 20, 2020. If they invent a miracle treatment for a condition, the money will find its way to the stock. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. It has real management. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. If you use our chart images on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Pricing likely would be favorable, given the lack of alternative treatments. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. UPDATE 1-Soccer-Traore on target as Wolves stun wasteful Spurs, Peruvian communities to resume blockade of crucial "mining corridor", One student loan forgiveness effort 'hasnt gotten the attention it deserves': expert, RPT-Death toll in strike on Ukraine's Zaporizhzhia rises to 11 - officials, Soccer-Traore on target as Wolves stun wasteful Spurs. Type a symbol or company name. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. Learn More. Cost basis and return based on previous market day close. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. It has real products. Source: Chart courtesy of StockCharts.com. Type a symbol or company name. But if they do, Ocugen stock at the least looks like an intriguing bet. Most biotech companies have intriguing stories on paper; Ocugen is no different. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. Ocugen sold $25 million of stock in a private placement before the merger. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. But there is no question some big-name stocks performed better than others along the way. Remember, though, that Moderna achieved this while working closely with the U.S. government (including receiving funding from Uncle Sam) and during a period when vaccines weren't widely available. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. Accordingly, the analyst rates OCGN a Neutral (i.e. If you missed that action, you missed all the gains. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. Typically, I care little about financials with biotechs. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. That's right -- they think these 10 stocks are even better buys. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. But realizing value in practice usually is a difficult endeavor. First, the balance sheet is in at least decent shape. This can prove to be a costly lesson to learn. In that list, you can even include penny-stock trader. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. Not an offer or recommendation by Stocktwits. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. However, due to the fact the details of the definitive agreement have yet to be finalized, in addition to the current lack of insight into the U.S. regulatory pathway or commercial strategy, Ramakanth stays on the sidelines for now. OCGN | Ocugen Inc. Stock Price & News - WSJ Ocugen Inc. OCGN (U.S.: Nasdaq) REAL TIME 12:30 PM EST 02/21/23 $0.9819USD -0.0981 -9.08% Volume 3,761,699 65 Day Avg Vol 5,026,332 1 Day Range. 2023 InvestorPlace Media, LLC. But the allure of the space is that when a company wins, its shareholders win big. This requires no immediate effort on your part. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. Making the world smarter, happier, and richer. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. See disclosure here. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. 1125 N. Charles St, Baltimore, MD 21201. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. It took Moderna roughly 10 months from the initiation of the late-stage study for its COVID-19 vaccine to the point where the company filed for full FDA approval. Ocugen Inc First Quarter 2022 Financial Results and Recent Business Highlights 04/21/2022 Noble Capital Markets' Eighteenth Annual Investor Conference 03/14/2022 34th Annual ROTH Conference 02/25/2022 Ocugen, Inc. Q4 and Full Year 2021 Financial Results and Recent Business Highlights 01/10/2022 H.C. Wainwright Bioconnect Conference 12/22/2021 The equity has experienced a continual decline for years. However, when that occurred, Ocugen stock lost most of its value. It means that raising capital will be more difficult going forward. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. But theres a big difference in having an edge flipping sub-$5 stocks vs. combing over this group as an investor looking for sound fundamentals and a mistakenly low stock price. From a near-term standpoint, there are two key risks. Ocugen announced in late Decemberit had signed a letter of intent to co-develop COVID-19 vaccine candidate Covaxin along with Indian pharmaceutical company Bharat Biotech. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. The risk-reward proposition for Ocugen is obviously much different now than it was when individuals were buying the stock over the last several months. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. So, what goes wrong? However, even from this limited vantage point, OCGN appears destined to fail. CanSinoBio will be able to fund much of the development of OCU300, Ocugens flagship product that targets oGVHD (ocular graft versus host disease), a common complication of bone marrow transplants. Can you feel the ground moving beneath your feet? MALVERN, Pa., May 29, 2018 /PRNewswire/ -- Ocugen, Inc., a rapidly growing ophthalmology company developing a rich clinical pipeline of innovative therapies that address rare and underserved ocular diseases, today announced that it will present at the 2018 BIO International Convention, taking place June 4-7, 2018, in Boston. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff, 5 Penny Cryptos With the Most Potential for Growth. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. But any success they find will be without me as a shareholder. The $25 million private placement executed before the merger brought in much-needed cash. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. (See OCGN stock analysis on TipRanks). Part of the proceeds will be used to support its partnership with Bharat. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. Create your Watchlist to save your favorite quotes on Nasdaq.com. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. Its all about choice. The odds of Ocugen stock winding up at zero are material. A $30 million market capitalization doesnt mean Ocugen has no chance. Long-term debt of $1.6 million is not a back-breaker either. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. The median estimate. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. To find good ideas for coronavirus stocks trading at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that unites all of TipRanks equity insights. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. Investors appear to expect that Bharat's big win for Covaxin in India could translate to success for Ocugen in the U.S. On Dec. 22, Ocugen and Bharat announced a binding letter of intent to jointly develop Covaxin for the U.S. market. Keith Speights has no position in any of the stocks mentioned. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. Maybe OCGN stock will be one of them again. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. If OCU300 is approved, theres a reasonably large market. But just because a company does not have crippling debt doesnt mean its a buy. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. At the beginning of 2020, Ocugen shares were trading at just 47 cents. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off. Even at around 40 cents per share, I would consider Ocugen stock overvalued. Ocugen Inc Stock - OCGN Share Price Today, News and Discussion 0.90% SPY 0.59% QQQ 0.60% TSLA 6.12% SI 60.35% CRM 11.51% RIVN 0.32% ARKK 0.96% RLY.X 56.44% PLUG 6.72% V 0.22% CDIO 13.87% RETA 5.92% More Advertisement 3rd Party Ad. I will concede this: The one great thing about the stock market is there is a style for everyone. Keith Speights owns shares of Pfizer. Custom BMW. OCU300 already has received an orphan drug designation from the U.S. Food & Drug Administration for oGVHD; there is no currently approved treatment in the U.S. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. Why Everyone Is Investing in 5G All WRONG, Americas #1 Stock Picker Reveals His Next 1,000% Winner, Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company, Radical New Battery Could Dismantle Oil Markets. Keith Speights for Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. The firm's modifier gene therapy platform is engaged in addressing retinal diseases, including retinitis pigmentosa, leber congenital amaurosis, and dry age-related macular degeneration. Ocugen isnt a promotional, fly-by-night penny stock. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. The reverse merger with Histogenics was a disappointment, but the purchase price for the NeoCart intellectual property suggests that company had little chance of survival on its own. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Theres even room for more lines. How can we possibly evaluate a stock on a fundamental basis with that being reality? Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Companies will inevitably be optimistic about their prospects for success (at least publicly). Unfortunately for longs, OCGN is much closer to the worst of conditions. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. Like other life sciences companies involved in Covid-19 vaccine. As of this writing, Matt did not hold a position in any of theaforementioned securities. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. The biotech stock promptly crashed by more than 30%. It means that institutional investors focused on the sector largely have passed on the pipeline. While anything is possible, I would not anticipate a miracle here. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. The chances of anything more are small but the rewards could be huge. David and Tom just revealed what they believe are the ten best stocks for investors to buy right now and Ocugen, Inc. wasn't one of them! Written by Ocugen. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Ocugen Inc. is a clinical stage biopharmaceutical company. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. You never know when they will suddenly go on a squeeze. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. Without NeoCart, that burn likely comes down. Do not expect a recovery in Ocugen stock. However, sometimes the optimism isn't justified. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Copyright 2023 InvestorPlace Media, LLC. David and Tom just revealed what they believe are the ten best stocks for investors to buy right now and Ocugen, Inc. wasn't one of them! Considering Bharats reputation for world-class R&D and manufacturing capabilities in vaccines and bio-therapeutics, H.C. Wainwright analyst Swayampakula Ramakanth thinks the company is a suitable partner.. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Do Not Sell My Personal Information (CA Residents Only). Disclaimer: The opinions expressed in this article are solely those of the featured analysts. So far, that merger hasnt worked out for Histogenics former shareholders. This decision. It brings in no revenue. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. That's right -- they think these 10 stocks are even better buys. Bharat's offering COVAXIN, a whole-viron inactivated COVID-19 vaccine candidate, has already shown promise in Phase 1 and 2 clinical trials in India and the enrollment of 26,000 subjects for the Phase 3 study is currently underway. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. quotes delayed at least 15 minutes, all others at least 20 minutes. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). Plus500. Its certainly possible the deal will fall through, leaving Ocugen with just the $15.8 million in cash with which it closed the third quarter, according to its 10-Q. Please check your download folder. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults.
