CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. Written by Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. 1125 N. Charles St, Baltimore, MD 21201. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. 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 equity has experienced a continual decline for years. Ocugen: Peripheral Scandals Taint This Expired COVID-19 'Me-Too' Longshot The Motley Fool has no position in any of the stocks mentioned. 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. Our 3 Top Picks. Typically, I care little about financials with biotechs. Why Ocugen Stock Is Crushing It Today | Nasdaq Ocugen stock jumps following positive Covid vaccine study results Plus500. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Why Ocugen Stock Is Crashing Today | The Motley Fool - Nasdaq For now, though, what happens in India stays in India. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Click here to see what Matt has up his sleeve now. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. 7 Travel Stocks to Buy Banking On Pent-Up Demand. Events - Ocugen From a near-term standpoint, there are two key risks. ET on Friday. It's hard to say for sure. If OCU300 is approved, theres a reasonably large market. Instead, this appears destined to join the long list of failed biotech startups. OCGN - Ocugen Inc Forecast - CNNMoney.com - CNN Business Literally, zero. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. 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. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. These options will be cheaper than owning the stock itself. 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! Concerns about the delta variant, the potential need for annual booster shots and the possibility of expanding the vaccines to children have investors hopeful that Covaxin will still eventually be a huge payoff for Ocugen. The content is intended to be used for informational purposes only. All rights reserved. Making the world smarter, happier, and richer. Cost basis and return based on previous market day close. These symbols will be available throughout the site during your session. Please check your download folder. So, what goes wrong? Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. But it does mean something. Investors should worry about companies with no revenue even under the best of circumstances. With No Revenue or Approved Treatments, Ocugen Stock Is a - Insider 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. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. Written by 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." Most biotech companies have intriguing stories on paper; Ocugen is no different. Ocugen Inc Stock - OCGN Share Price Today, News and Discussion - Stocktwits Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). 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. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. The stock had gained some traction after they announced the. Other than an emphasis on cell therapies, the companies had almost nothing in common. 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. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. Copyright 2023 InvestorPlace Media, LLC. Ocugen estimates the drug could have as many as 63,000 potential patients. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. However, even from this limited vantage point, OCGN appears destined to fail. That doesnt mean success is guaranteed. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Maybe OCGN stock will be one of them again. In this case, shares rallied about four-fold in just a few days. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Unfortunately for investors, the U.S. FDA did not grant Covaxin an Emergency Use Authorization and instead recommended in June that Ocugen opt for a Biologic License Application that will likely require additional Phase 3 testing. How can we possibly evaluate a stock on a fundamental basis with that being reality? 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Type a symbol or company name. The FDA's decision not to issue EUA really wasn't all that surprising, though. By the beginning of March, the stock was still trading at 45 cents as news of the coronavirus spreading in China prompted concerns about a U.S. pandemic. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. In that list, you can even include penny-stock trader. 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 announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Learn More. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Source: Chart courtesy of StockCharts.com. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. Why Ocugen Stock Dropped Today | The Motley Fool - Nasdaq 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. Keith Speights owns shares of Pfizer. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. Gw pharmaceuticals stock dividends will nike stock split soon Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. And its at least possible that OCGN could wind up being a winner. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Conditions have only become worse since that time. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. At the time, Ocugen was left for dead. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. Can you feel the ground moving beneath your feet? It means that institutional investors focused on the sector largely have passed on the pipeline. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. Theres even room for more lines. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. The Motley Fool->. The average Ocugen stock price for the last 52 weeks is 2.10. 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. 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. Type a symbol or company name. This requires no immediate effort on your part. The newly renamed Ocugen stock kept declining through year-end, but has managed to stage a bit of a rally in 2020, gaining 15% year-to-date. Copyright Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. What Is the Best EV Stock to Buy Now? OCGN does not even appear to have an apparent reason to exist. Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. If Ocugen goes up, you can still profit. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. The Motley Fool has a disclosure policy. The Ocugen deal is a way to salvage some limited value. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 2023 InvestorPlace Media, LLC. 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. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Ocugen had to go an unusual route to go public. Copy and paste multiple symbols separated by spaces. Sign up below to get this incredible offer! Nasdaq Even before that point, the most promising candidates generally can find funding. Type a symbol or company name. What Is the Best EV Stock to Buy Now? Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. That's right -- they think these 10 stocks are even better buys. But there is no question some big-name stocks performed better than others along the way. To make the world smarter, happier, and richer. There's still a chance that the vaccine could receive a green light in Canada. Don't Get Greedy With Ocugen Stock, Says Analyst But realizing value in practice usually is a difficult endeavor. Investors need to understand the risk profile here. 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. If you missed that action, you missed all the gains. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. 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. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Do Not Sell My Personal Information (CA Residents Only). 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. But the allure of the space is that when a company wins, its shareholders win big. 1125 N. Charles St, Baltimore, MD 21201. 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. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. As of this writing, Matt did not hold a position in any of theaforementioned securities. 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.