Disclaimer: The opinions expressed in this article are solely those of the featured analysts. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. 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. Theres even room for more lines. 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. Please check your download folder. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. 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! 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 . It's hard to say for sure. The Motley Fool->. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. (To watch Ramakanths track record, click here), In contrast, all 3 other analysts who have recently posted an Ocugen review rate the stock a Buy. 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. The equity has experienced a continual decline for years. Do Not Sell My Personal Information (CA Residents Only). 1125 N. Charles St, Baltimore, MD 21201. But the allure of the space is that when a company wins, its shareholders win big. 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. Ocugen sold $25 million of stock in a private placement before the merger. 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. Investors who have owned stocks in the last year have generally experienced some big gains. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. As of this writing, Vince Martin has no positions in any securities mentioned. 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? You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Copy and paste multiple symbols separated by spaces. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. 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." Accordingly, the analyst rates OCGN a Neutral (i.e. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. 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. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. Type a symbol or company name. 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. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. 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. At the time, Ocugen was left for dead. Investors were hopeful that the small drugmaker would be able to win U.S. This requires no immediate effort on your part. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Even before that point, the most promising candidates generally can find funding. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. For now, though, what happens in India stays in India. 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. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. Copyright 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. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. To make the world smarter, happier, and richer. 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.. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). Theres even room for more lines. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. 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. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. It means that raising capital will be more difficult going forward. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. *Stock Advisor returns as of June 7, 2021. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. 2023 InvestorPlace Media, LLC. Investors should worry about companies with no revenue even under the best of circumstances. 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. Honestly, OCGN stock is unlikely to survive. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. But it does mean something. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. And its at least possible that OCGN could wind up being a winner. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). 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. Written by 7 Travel Stocks to Buy Banking On Pent-Up Demand. Ocugen had to go an unusual route to go public. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. Do Not Sell My Personal Information (CA Residents Only). Sign up below to get this incredible offer! Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Investors were hopeful that the small drugmaker would be able to win U.S. 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. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Start trading Options with Saxo today. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. That said, for investors who understand the potential downside, there is an intriguing story here. Click here to see what Matt has up his sleeve now. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. As of this writing, Matt did not hold a position in any of theaforementioned securities. But any success they find will be without me as a shareholder. 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. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. The Motley Fool has no position in any of the stocks mentioned. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. Ocugen isnt a promotional, fly-by-night penny stock. Thats the thing with these low-priced penny stocks. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. The second is that the balance sheet still needs some help. These symbols will be available throughout the site during your session. The odds of Ocugen stock winding up at zero are material. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. If you missed that action, you missed all the gains. A $30 million market capitalization doesnt mean Ocugen has no chance. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. 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. The company initiated its Phase 3 trial of OCU300 back in July 2018. However, when that occurred, Ocugen stock lost most of its value. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. 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. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. The chances of anything more are small but the rewards could be huge. *ALL INFO ABOUT THE BIKE AND GEAR USED DOWN BELOW**If not listed it's left stock*BIKE: 2018, BMW R NINET SCRAMBLER.EXHAUST: Akrapovic Headers, Uni. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. 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. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Instead of buying a piece of the S&P 500 or Nasdaq or even better, a common sense mega-holding like Apple (NASDAQ:AAPL) or Amazon investors in OCGN stock took on a high-risk investment and for months saw negative returns. All rights reserved. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. Type a symbol or company name. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) It has real management. Bharat Biotech has a history of successful vaccine commercialization in South Asia. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). 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. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. At the beginning of 2020, Ocugen shares were trading at just 47 cents. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. But if they do, Ocugen stock at the least looks like an intriguing bet. market." The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Axsome Therapeutics (NASDAQ:AXSM) had an equity value below $75 million in March 2017; its now worth over $3 billion after rising over 1,000% last year. 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. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. But realizing value in practice usually is a difficult endeavor. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. The Motley Fool has no position in any of the stocks mentioned. Nasdaq In November, Bharat Biotech began Phase 3 testing of Covaxin in India. 1125 N. Charles St, Baltimore, MD 21201. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. Keith Speights owns shares of Pfizer. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. 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. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. 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 Bharat Biotech to co-develop a COVID-19 vaccine for the U.S. market. Ocugen estimates the drug could have as many as 63,000 potential patients. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. Investors need to understand the risk profile here. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Maybe OCGN stock will be one of them again. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. Its certainly possible. There's still a chance that the vaccine could receive a green light in Canada. The Ocugen deal is a way to salvage some limited value. I will concede this: The one great thing about the stock market is there is a style for everyone. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. 1125 N. Charles St, Baltimore, MD 21201. 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. 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 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. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Copyright 2023 InvestorPlace Media, LLC. 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. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. And while Ocugen will need more capital at some point, the company at least has time to push OCU300 forward and get its story out to investors. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. The FDA's decision not to issue EUA really wasn't all that surprising, though. It has real products. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. 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. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. 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. Part of the proceeds will be used to support its partnership with Bharat. *Stock Advisor returns as of November 20, 2020. The Ocugen deal is a way to salvage some limited value. The Motley Fool->. 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. Its worth emphasizing: Ocugen stock is a play with enormous risk. Hold) without suggesting a price target. Typically, I care little about financials with biotechs. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. 1 Reason to Buy Ocugen in 2023 and 2 Reasons to Sell, 3 Under-the-Radar Stocks With 590% to 772% Upside in 2023, According to Wall Street, 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Warren Buffett's Latest $2.9 Billion Buy Brings His Total Investment in This Stock to $66 Billion in 4 Years, Want $1 Million in Retirement?
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