Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. But just because a company does not have crippling debt doesnt mean its a buy. Companies will inevitably be optimistic about their prospects for success (at least publicly). Instead, this appears destined to join the long list of failed biotech startups. Emergency Use . That said, for investors who understand the potential downside, there is an intriguing story here. The Motley Fool->. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Do not expect a recovery in Ocugen stock. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. Our 3 Top Picks. The company stated that it will pursue a path to file for full FDA approval of Covaxin. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. 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. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Create your Watchlist to save your favorite quotes on Nasdaq.com. OCGN does not even appear to have an apparent reason to exist. What should investors do now? The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. Its worth emphasizing: Ocugen stock is a play with enormous risk. 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. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. All rights reserved. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. 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. 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! In that list, you can even include penny-stock trader. At the time, Ocugen was left for dead. Without NeoCart, that burn likely comes down. 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.. But realizing value in practice usually is a difficult endeavor. The equity has experienced a continual decline for years. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Maybe OCGN stock will be one of them again. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. 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. Keith Speights has no position in any of the stocks mentioned. 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. But if they do, Ocugen stock at the least looks like an intriguing bet. Pricing likely would be favorable, given the lack of alternative treatments. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. 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. It means that raising capital will be more difficult going forward. It is very important to do your own analysis before making any investment. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. 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. Nasdaq Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. That's right -- they think these 10 stocks are even better buys. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. 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. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. If OCU300 is approved, theres a reasonably large market. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. The FDA's decision not to issue EUA really wasn't all that surprising, though. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. 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. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. 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 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. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. Still, Ocugens balance sheet isnt as dire as its share price might suggest. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. ET on Friday. Plus500. 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. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. 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. 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. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. Investors should worry about companies with no revenue even under the best of circumstances. Keith Speights owns shares of Pfizer. 2023 InvestorPlace Media, LLC. The $25 million private placement executed before the merger brought in much-needed cash. 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. 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. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. For now, though, what happens in India stays in India. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. The Motley Fool has a disclosure policy. These symbols will be available throughout the site during your session. The firm's modifier gene therapy platform is engaged in addressing retinal diseases, including retinitis pigmentosa, leber congenital amaurosis, and dry age-related macular degeneration. Investors need to understand the risk profile here. 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. The biotech stock promptly crashed by more than 30%. Ocugen. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. 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. It has real management. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. *Stock Advisor returns as of June 7, 2021. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. 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. How long might it take for Ocugen to win full FDA approval for Covaxin? I will concede this: The one great thing about the stock market is there is a style for everyone. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Source: Chart courtesy of StockCharts.com. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. Sign up below to get this incredible offer! Cost basis and return based on previous market day close. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. From a near-term standpoint, there are two key risks. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. Not an offer or recommendation by Stocktwits. The average Ocugen stock price for the last 52 weeks is 2.10. The statistics support having long-term exposure to this asset class. Thats the thing with these low-priced penny stocks. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. However, when that occurred, Ocugen stock lost most of its value. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. 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. To make the world smarter, happier, and richer. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. 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. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). As of this writing, Matt did not hold a position in any of theaforementioned securities. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. Please check your download folder. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. Investors were hopeful that the small drugmaker would be able to win U.S. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. Do Not Sell My Personal Information (CA Residents Only). Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. That's right -- they think these 10 stocks are even better buys. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. 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. The Motley Fool has a disclosure policy. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. To be sure, current cash isnt enough. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Unfortunately for longs, OCGN is much closer to the worst of conditions. But there is no question some big-name stocks performed better than others along the way. Ocugen sold $25 million of stock in a private placement before the merger. It has no treatments to offer the market. Maybe. Ocugen Inc. is a clinical stage biopharmaceutical company. What Is the Best EV Stock to Buy Now? The latest closing stock price for Ocugen as of March 03, 2023 is. Hold) without suggesting a price target. Ocugen had to go an unusual route to go public. 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. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. Even at around 40 cents per share, I would consider Ocugen stock overvalued. 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. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. There's still a chance that the vaccine could receive a green light in Canada. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. 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. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. If they invent a miracle treatment for a condition, the money will find its way to the stock. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. The Motley Fool->. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. Even before that point, the most promising candidates generally can find funding. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. 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 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. 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 Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. 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. Copyright 2023 InvestorPlace Media, LLC. Please check your download folder. Do Not Sell My Personal Information (CA Residents Only). 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. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. 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. 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. 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.
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