Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. 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. Histogenics itself highlights the risks involved in small-cap biotech. The Motley Fool->. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. But there is no question some big-name stocks performed better than others along the way. 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. The stock had gained some traction after they announced the Ocugen merger in April. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. Ocugen sold $25 million of stock in a private placement before the merger. 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.. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. 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. The Motley Fool recommends Moderna Inc. 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. These options will be cheaper than owning the stock itself. What Is the Best EV Stock to Buy Now? Ocugen Inc. is a clinical stage biopharmaceutical company. Our 3 Top Picks. It is very important to do your own analysis before making any investment. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. The odds of Ocugen stock winding up at zero are material. The Motley Fool has a disclosure policy. Long-term debt of $1.6 million is not a back-breaker either. Even before that point, the most promising candidates generally can find funding. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. Events - Ocugen Most biotech companies have intriguing stories on paper; Ocugen is no different. 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. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. In that list, you can even include penny-stock trader. 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. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. Ocugen Inc Stock - OCGN Share Price Today, News and Discussion - Stocktwits When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Typically, I care little about financials with biotechs. That doesnt mean success is guaranteed. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. All rights reserved. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. All rights reserved. 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. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. (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. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Still, Ocugens balance sheet isnt as dire as its share price might suggest. Its worth emphasizing: Ocugen stock is a play with enormous risk. 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. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. Instead, this appears destined to join the long list of failed biotech startups. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. market." It has no treatments to offer the market. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Its all about choice. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. 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. The FDA's decision not to issue EUA really wasn't all that surprising, though. 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. 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. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. 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. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. The stock had gained some traction after they announced the. Investors who have owned stocks in the last year have generally experienced some big gains. Ill be sticking to the stocks that are actually working. The company initiated its Phase 3 trial of OCU300 back in July 2018. Honestly, OCGN stock is unlikely to survive. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. With No Revenue or Approved Treatments, Ocugen Stock Is a - Insider The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. The $25 million private placement executed before the merger brought in much-needed cash. That's not going to happen now. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. There's still a chance that the vaccine could receive a green light in Canada. 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. Copyright 2023 InvestorPlace Media, LLC. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Copy and paste multiple symbols separated by spaces. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. Making the world smarter, happier, and richer. 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. OCGN | Ocugen Inc. Stock Price & News - WSJ CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. If Ocugen goes up, you can still profit. 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." Sign up below to get this incredible offer! Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. 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. 1125 N. Charles St, Baltimore, MD 21201. The Ocugen deal is a way to salvage some limited value. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. However, sometimes the optimism isn't justified. Investors were hopeful that the small drugmaker would be able to win U.S. Nasdaq The Motley Fool->. Copyright (See OCGN stock analysis on TipRanks). 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? Do Not Sell My Personal Information (CA Residents Only). Those lessons will vary between different investors, but I'll point out a major one to keep in mind. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Do Not Sell My Personal Information (CA Residents Only). 1125 N. Charles St, Baltimore, MD 21201. The Ocugen deal is a way to salvage some limited value. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Type a symbol or company name. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. This requires no immediate effort on your part. First, the balance sheet is in at least decent shape. Conditions have only become worse since that time. The Motley Fool has a disclosure policy. Learn More. Why Ocugen Stock Is Crushing It Today | Nasdaq 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. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. Theres even room for more lines. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. 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. Written by Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. Ocugen Inc. Announces Closing of $100 Million Registered A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. Source: Chart courtesy of StockCharts.com. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. For now, though, what happens in India stays in India. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. Its certainly possible. 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. Maybe OCGN stock will be one of them again. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. The potential synergies of such a union do not seem clear. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. 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. 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. 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. Investors were hopeful that the small drugmaker would be able to win U.S. While anything is possible, I would not anticipate a miracle here. 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. Type a symbol or company name. The Motley Fool has a disclosure policy. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. The biotech stock promptly crashed by more than 30%. Copy and paste multiple symbols separated by spaces. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. Invest better with The Motley Fool. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. 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. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. Copyright 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 Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Investing is always a game of balancing risk and reward. Maybe. 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. 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. And its at least possible that OCGN could wind up being a winner. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. 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. The equity has experienced a continual decline for years. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. 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. Theres even room for more lines. Written by The statistics support having long-term exposure to this asset class. *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 estimates the drug could have as many as 63,000 potential patients. quotes delayed at least 15 minutes, all others at least 20 minutes. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. 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? Ocugen to Present at the 2018 BIO International Convention | Ocugen, Inc. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Pricing likely would be favorable, given the lack of alternative treatments. ET on Friday. 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. 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. These symbols will be available throughout the site during your session. 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. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. Copyright 2023 InvestorPlace Media, LLC. To make the world smarter, happier, and richer. 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. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. That product drives the current bull case for Ocugen stock. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. Don't Get Greedy With Ocugen Stock, Says Analyst For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. How can we possibly evaluate a stock on a fundamental basis with that being reality? 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. Click here to see what Matt has up his sleeve now. Ocugen. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. However, I wont be around to find out. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. Create your Watchlist to save your favorite quotes on Nasdaq.com. If OCU300 is approved, theres a reasonably large market. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. Theres an opportunity here. But if they do, Ocugen stock at the least looks like an intriguing bet. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. It's hard to say for sure. 2023 InvestorPlace Media, LLC. For investors new to the story, there are some positives when it comes to OCGN stock. 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. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. 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. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. 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. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. Part of the proceeds will be used to support its partnership with Bharat. Can you feel the ground moving beneath your feet? For priority reviews, the timeline for an approval decision is reduced to six months. Ocugen: Peripheral Scandals Taint This Expired COVID-19 'Me-Too' Longshot But realizing value in practice usually is a difficult endeavor. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. It means that raising capital will be more difficult going forward. Start trading Options with Saxo today. It has real products. 2023 InvestorPlace Media, LLC. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. Companies will inevitably be optimistic about their prospects for success (at least publicly). To be sure, current cash isnt enough. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. The median estimate. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. 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.. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. However, even from this limited vantage point, OCGN appears destined to fail. Hold) without suggesting a price target. Investors should worry about companies with no revenue even under the best of circumstances. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. Keith Speights has no position in any of the stocks mentioned. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. 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. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else.
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