It has real management. The company stated that it will pursue a path to file for full FDA approval of Covaxin. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. 2023 InvestorPlace Media, LLC. But there is no question some big-name stocks performed better than others along the way. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. The Motley Fool has a disclosure policy. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. 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. A $30 million market capitalization doesnt mean Ocugen has no chance. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Cost basis and return based on previous market day close. The short answer is: everything. 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. 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. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Source: Chart courtesy of StockCharts.com. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. However, I wont be around to find out. Honestly, OCGN stock is unlikely to survive. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. But any success they find will be without me as a shareholder. Ocugen isnt a promotional, fly-by-night penny stock. In that list, you can even include penny-stock trader. Not an offer or recommendation by Stocktwits. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. 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 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 OCGN does not even appear to have an apparent reason to exist. It means that institutional investors focused on the sector largely have passed on the pipeline. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Biotech companies have emerged from similar levels to become huge winners, as evidenced simply by looking at some of the best biotech stocks for 2019. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. *Stock Advisor returns as of June 7, 2021. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Still, Ocugens balance sheet isnt as dire as its share price might suggest. Conditions have only become worse since that time. Theres even room for more lines. If Ocugen goes up, you can still profit. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. 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. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). Nasdaq 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. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. The company initiated its Phase 3 trial of OCU300 back in July 2018. From a near-term standpoint, there are two key risks. 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. This decision. But realizing value in practice usually is a difficult endeavor. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. The Motley Fool has a disclosure policy. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. Part of the proceeds will be used to support its partnership with Bharat. But it does mean something. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. Custom BMW. The Motley Fool->. 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. At the beginning of 2020, Ocugen shares were trading at just 47 cents. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). Please check your download folder. Accordingly, the analyst rates OCGN a Neutral (i.e. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. In this case, shares rallied about four-fold in just a few days. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. ET on Friday. (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. 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. 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. 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. 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. Ocugen had to go an unusual route to go public. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. It brings in no revenue. The latest closing stock price for Ocugen as of March 03, 2023 is. Start trading Options with Saxo today. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. Written by What should investors do now? 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. 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. Keith Speights has no position in any of the stocks mentioned. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. Type a symbol or company name. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. Copyright From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. 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. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. 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. At the time, Ocugen was left for dead. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. However, when that occurred, Ocugen stock lost most of its value. market." 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. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. Typically, I care little about financials with biotechs. This requires no immediate effort on your part. Its certainly possible. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. 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. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. 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. Plus500. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. 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 . Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. However, sometimes the optimism isn't justified. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. 1125 N. Charles St, Baltimore, MD 21201. The biotech stock promptly crashed by more than 30%. 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. As of this writing, Vince Martin has no positions in any securities mentioned. Bharat Biotech has a history of successful vaccine commercialization in South Asia. Create your Watchlist to save your favorite quotes on Nasdaq.com. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. Ocugen stated in a press release that it plans to "continue working with the FDA to evaluate the regulatory pathway for the pediatric use of Covaxin." If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. Theres an opportunity here. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. Theres even room for more lines. Type a symbol or company name. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. Ill be sticking to the stocks that are actually working. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. 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. 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.. What Is the Best EV Stock to Buy Now? 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. 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. 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.. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. For priority reviews, the timeline for an approval decision is reduced to six months. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. It has real products. 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. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. 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. Investing is always a game of balancing risk and reward. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Investors who have owned stocks in the last year have generally experienced some big gains. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 2023 InvestorPlace Media, LLC. But just because a company does not have crippling debt doesnt mean its a buy. 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. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. Investors should worry about companies with no revenue even under the best of circumstances. 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. 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. The potential synergies of such a union do not seem clear. 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. So far, that merger hasnt worked out for Histogenics former shareholders. Guys, theres no revenue here! 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. If OCU300 is approved, theres a reasonably large market. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. The FDA's decision not to issue EUA really wasn't all that surprising, though. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. Type a symbol or company name. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 1125 N. Charles St, Baltimore, MD 21201. And its at least possible that OCGN could wind up being a winner. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. Keith Speights has no position in any of the stocks mentioned. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. 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. Matt McCall and the InvestorPlace Research Staff, statistics support having long-term exposure, Click here to see what Matt has up his sleeve now, There Are So Many Stocks to Buy Ocugen Isnt One of Them.
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