On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. How can we possibly evaluate a stock on a fundamental basis with that being reality? Ocugen sold $25 million of stock in a private placement before the merger. 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. But if they do, Ocugen stock at the least looks like an intriguing bet. 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, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. The potential synergies of such a union do not seem clear. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. 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? 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. Pricing likely would be favorable, given the lack of alternative treatments. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. It's hard to say for sure. Type a symbol or company name. But just because a company does not have crippling debt doesnt mean its a buy. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. The company initiated its Phase 3 trial of OCU300 back in July 2018. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. Investors were hopeful that the small drugmaker would be able to win U.S. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. 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. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. 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! Investors who have owned stocks in the last year have generally experienced some big gains. 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. 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. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. It has real products. 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. That product drives the current bull case for Ocugen stock. See disclosure here. 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. Ocugen estimates the drug could have as many as 63,000 potential patients. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Copy and paste multiple symbols separated by spaces. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. The average Ocugen stock price for the last 52 weeks is 2.10. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). At the time, Ocugen was left for dead. Accordingly, the analyst rates OCGN a Neutral (i.e. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. You canfollow Will on Twitterat @HealyWriting. The short answer is: everything. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. Keith Speights for 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. Cost basis and return based on previous market day close. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. To be sure, current cash isnt enough. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. The statistics support having long-term exposure to this asset class. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. Most biotech companies have intriguing stories on paper; Ocugen is no different. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Not an offer or recommendation by Stocktwits. Investing is always a game of balancing risk and reward. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. The FDA's decision not to issue EUA really wasn't all that surprising, though. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Theres an opportunity here. If OCU300 is approved, theres a reasonably large market. Other than an emphasis on cell therapies, the companies had almost nothing in common. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. However, even from this limited vantage point, OCGN appears destined to fail. Maybe OCGN stock will be one of them again. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. 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 latest closing stock price for Ocugen as of March 03, 2023 is. The $25 million private placement executed before the merger brought in much-needed cash. The Motley Fool has a disclosure policy. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. Lorem ipsum dolor sit amet, consectetur adipiscing elit. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. Please check your download folder. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. So, what goes wrong? Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. What should investors do now? One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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." Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. The company stated that it will pursue a path to file for full FDA approval of Covaxin. The chances of anything more are small but the rewards could be huge. 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. Sign up below to get this incredible offer! Theres even room for more lines. But realizing value in practice usually is a difficult endeavor. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). This can prove to be a costly lesson to learn. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. 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.. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. The Ocugen deal is a way to salvage some limited value. In this case, shares rallied about four-fold in just a few days. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Companies will inevitably be optimistic about their prospects for success (at least publicly). When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. These symbols will be available throughout the site during your session. Unfortunately for longs, OCGN is much closer to the worst of conditions. You never know when they will suddenly go on a squeeze. 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. It has real management. Guys, theres no revenue here! Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Our 3 Top Picks. Bharat Biotech has a history of successful vaccine commercialization in South Asia. 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. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. 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 Motley Fool has no position in any of the stocks mentioned. But any success they find will be without me as a shareholder. Conditions have only become worse since that time. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. 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. 1125 N. Charles St, Baltimore, MD 21201. Thats not a new problem: a previous Phase 1/2 study, according to the prospectus, was discontinued early due to slow enrollment. The company noted that additional trials may be required as well. Its worth emphasizing: Ocugen stock is a play with enormous risk. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. 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. Written by The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. But it does mean something. 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. 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. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. Ill be sticking to the stocks that are actually working. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. It is very important to do your own analysis before making any investment. 1125 N. Charles St, Baltimore, MD 21201. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. 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. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. Do Not Sell My Personal Information (CA Residents Only). 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. It means that institutional investors focused on the sector largely have passed on the pipeline. 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 Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. If they have solid financials, but their trials continually fail, they will likely not succeed. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. *Average returns of all recommendations since inception. Nasdaq Copy and paste multiple symbols separated by spaces. 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 . Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. Here are three prudent steps to take. Create your Watchlist to save your favorite quotes on Nasdaq.com. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. 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. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. Investors should worry about companies with no revenue even under the best of circumstances. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. Keith Speights has no position in any of the stocks mentioned. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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 Motley Fool has a disclosure policy. 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.
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