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.. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. With $3.2 million in cash vs. current liabilities of $3.3 million, Ocugen likely has enough cash on hand to cover its short-term obligations. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. The equity has experienced a continual decline for years. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. 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. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. What should investors do now? Hold) without suggesting a price target. Thats the thing with these low-priced penny stocks. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. The FDA's decision not to issue EUA really wasn't all that surprising, though. 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. This requires no immediate effort on your part. Copy and paste multiple symbols separated by spaces. Plus500. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Not an offer or recommendation by Stocktwits. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. In December, Ocugen stated that it had put together an advisory board of "leading academic and industry experts to evaluate the clinical and regulatory path to approval in the U.S. 1125 N. Charles St, Baltimore, MD 21201. Instead, this appears destined to join the long list of failed biotech startups. The Motley Fool has no position in any of the stocks mentioned. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. Start trading Options with Saxo today. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. The Ocugen deal is a way to salvage some limited value. 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. Ramakanth believes the broad immunity targeting different components of the virus could potentially provide better protection against emerging mutant viruses, such as the one currently circulating in the UK. With this in mind, in the Phase 1 study, COVAXIN has shown robust antibody responses against spike (S1) protein, receptor-binding domain (RBD) and the nucleocapsid (N) protein of SARS-CoV-2. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. The stock had gained some traction after they announced the Ocugen merger in April. 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 sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. The Motley Fool has a disclosure policy. Even at around 40 cents per share, I would consider Ocugen stock overvalued. But any success they find will be without me as a shareholder. Create your Watchlist to save your favorite quotes on Nasdaq.com. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. For example, after the FDA revised its guidelines for the EUA process for COVID-19 vaccines, Ocugen's CEO stated, "Since we have been in discussions with the FDA since late last year, we do not believe that the FDA's recently revised guidance regarding EUAs raises any concerns about our ability to submit the EUA for Covaxin as planned." Ocugen estimates the drug could have as many as 63,000 potential patients. At the time, Ocugen was left for dead. Written by From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. Nasdaq Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. How long might it take for Ocugen to win full FDA approval for Covaxin? Ocugen sold $25 million of stock in a private placement before the merger. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. 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. Bharat Biotech has a history of successful vaccine commercialization in South Asia. How can we possibly evaluate a stock on a fundamental basis with that being reality? Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. Conditions have only become worse since that time. Ocugen had to go an unusual route to go public. 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. *Average returns of all recommendations since inception. 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. Copyright Ill be sticking to the stocks that are actually working. 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. 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. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. 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. The statistics support having long-term exposure to this asset class. Ocugen isnt a promotional, fly-by-night penny stock. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. A $30 million market capitalization doesnt mean Ocugen has no chance. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. Cost basis and return based on previous market day close. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. Emergency Use . This decision. If they have solid financials, but their trials continually fail, they will likely not succeed. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. Create your Watchlist to save your favorite quotes on Nasdaq.com. Can you feel the ground moving beneath your feet? Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. Most biotech companies have intriguing stories on paper; Ocugen is no different. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). 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. Honestly, OCGN stock is unlikely to survive. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Theres even room for more lines. That pathway will likely require the company to conduct further clinical testing of the vaccine in the U.S. Are there any other near-term catalysts for the biotech stock? Learn More. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. The company initiated its Phase 3 trial of OCU300 back in July 2018. There's still a chance that the vaccine could receive a green light in Canada. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. In this case, shares rallied about four-fold in just a few days. 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. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. All rights reserved. Investing is always a game of balancing risk and reward. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. Accordingly, the analyst rates OCGN a Neutral (i.e. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. As of this writing, Vince Martin has no positions in any securities mentioned. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. Type a symbol or company name. Even before that point, the most promising candidates generally can find funding. Nasdaq 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Theres an opportunity here. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. Without NeoCart, that burn likely comes down. Still, Ocugens balance sheet isnt as dire as its share price might suggest. What Is the Best EV Stock to Buy Now? From a near-term standpoint, there are two key risks. 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. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. 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. 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. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. The market capitalization of Relmada Therapeutics (NASDAQ:RLMD) went from under $10 million at the end of 2017 to over $500 million at the moment. To be sure, current cash isnt enough. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Here are three prudent steps to take. But realizing value in practice usually is a difficult endeavor. 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 This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. Histogenics itself highlights the risks involved in small-cap biotech. CanSinoBio will receive some of the profits, but Ocugen still would skyrocket with FDA approval and ensuing revenue and there are more products in the pipeline. Investors were hopeful that the small drugmaker would be able to win U.S. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. It means that institutional investors focused on the sector largely have passed on the pipeline. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. *Stock Advisor returns as of November 20, 2020. What Is the Best EV Stock to Buy Now? In other words, it means that even by biotech standards OCGN stock is an enormously risky play. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. For now, though, what happens in India stays in India. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Why Ocugen Stock Is Crashing Today By Keith Speights - Mar 4, 2022 at 11:42AM Key Points The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. To make the world smarter, happier, and richer. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. As of this writing, Matt did not hold a position in any of theaforementioned securities. See disclosure here. The Motley Fool->. 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. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. At the beginning of 2020, Ocugen shares were trading at just 47 cents. The content is intended to be used for informational purposes only. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. Pricing likely would be favorable, given the lack of alternative treatments. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Please check your download folder. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. The $25 million private placement executed before the merger brought in much-needed cash. 1125 N. Charles St, Baltimore, MD 21201. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Investors who have owned stocks in the last year have generally experienced some big gains. It's hard to say for sure. But just because a company does not have crippling debt doesnt mean its a buy. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. The Motley Fool has a disclosure policy. So, what goes wrong? Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. You canfollow Will on Twitterat @HealyWriting. 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! The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. Type a symbol or company name. It is very important to do your own analysis before making any investment. The next key catalyst for the biotech stock could be the announcement of the details of the plan to win EUA for Covaxin in the U.S. market. The broad point here is that, even with a ~$30 million market capitalization (based on updated share count information disclosed in an 8-K filing on Dec. 9), this is a company with a legitimate opportunity. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. Literally, zero. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). 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. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. 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. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. That said, for investors who understand the potential downside, there is an intriguing story here. Shares of Ocugen ( OCGN) skyrocketed over 800% in the past three trading sessions after the biopharmaceutical company disclosed it had signed a binding letter of intent (LOI) with India based. 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. 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. 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. Part of the proceeds will be used to support its partnership with Bharat. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. quotes delayed at least 15 minutes, all others at least 20 minutes. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. For now, the biggest near-term hope for Covaxin may be that Canada or another developed economy will buy the vaccine to share with developing nations. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Keith Speights has no position in any of the stocks mentioned. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. 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. Do not expect a recovery in Ocugen stock. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. Ocugen does have at least 180 days to cure that problem, but the simplest answer is for the company to execute a reverse stock split. With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell Amryt Pharma releases Q-2 how to setup copy trading labrador gold stock that show strong revenue growth as The first split for NKE took place on October 08, Below, we'll pit these two dominant consumer-discretionary giants against each other, with an eye toward long-term . I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. If they invent a miracle treatment for a condition, the money will find its way to the stock. 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. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. 7 Travel Stocks to Buy Banking On Pent-Up Demand. Our 3 Top Picks. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Written by In November, Bharat Biotech began Phase 3 testing of Covaxin in India. Custom BMW. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. The potential synergies of such a union do not seem clear. But it does mean something. All rights reserved. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. 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! However, I wont be around to find out. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Other than an emphasis on cell therapies, the companies had almost nothing in common. Admittedly one could argue that it could have been bought for a quarter and sold for 75 cents, but hindsight is 20/20 in all of these names. However, when that occurred, Ocugen stock lost most of its value. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. The second is that the balance sheet still needs some help. The median estimate. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. That doesnt mean success is guaranteed. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. Sign up below to get this incredible offer! OCGN does not even appear to have an apparent reason to exist. However, even from this limited vantage point, OCGN appears destined to fail. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. That's right -- they think these 10 stocks are even better buys. Our 3 Top Picks. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. The steep decline came after the company announced that the U.S. Food and Drug Administration (FDA) won't grant Emergency Use Authorization (EUA) for COVID-19 vaccine Covaxin in children ages two to 18. Its worth emphasizing: Ocugen stock is a play with enormous risk. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Copyright 2023 InvestorPlace Media, LLC. Stock Price Forecast The 6 analysts offering 12-month price forecasts for Ocugen Inc have a median target of 4.75, with a high estimate of 8.00 and a low estimate of 3.00.
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