The second is that the balance sheet still needs some help. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. You never know when they will suddenly go on a squeeze. As of this writing, Matt did not hold a position in any of theaforementioned securities. This requires no immediate effort on your part. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. Maybe OCGN stock will be one of them again. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. It has real management. Investing is always a game of balancing risk and reward. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. I will concede this: The one great thing about the stock market is there is a style for everyone. Accordingly, the analyst rates OCGN a Neutral (i.e. Guys, theres no revenue here! Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. 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. 1125 N. Charles St, Baltimore, MD 21201. Hold) without suggesting a price target. Ill be sticking to the stocks that are actually working. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). At the time, Ocugen was left for dead. Investors were hopeful that the small drugmaker would be able to win U.S. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. Ocugen. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. 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 Motley Fool has no position in any of the stocks mentioned. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. 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. In this case, shares rallied about four-fold in just a few days. First, the balance sheet is in at least decent shape. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. 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. *Average returns of all recommendations since inception. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. The odds of Ocugen stock winding up at zero are material. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. Other than an emphasis on cell therapies, the companies had almost nothing in common. The company initiated its Phase 3 trial of OCU300 back in July 2018. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. What Is the Best EV Stock to Buy Now? Unfortunately for longs, OCGN is much closer to the worst of conditions. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). 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. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. It brings in no revenue. The Motley Fool has a disclosure policy. 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. Copy and paste multiple symbols separated by spaces. 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." That's not going to happen now. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. Ocugen isnt a promotional, fly-by-night penny stock. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. The Motley Fool recommends Moderna Inc. Its all about choice. 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. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. Histogenics itself highlights the risks involved in small-cap biotech. 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. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. Even before that point, the most promising candidates generally can find funding. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. 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. Keith Speights owns shares of Pfizer. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. Learn More. 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." Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Click here to see what Matt has up his sleeve now. Emergency Use . The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. 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. 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. Type a symbol or company name. Start trading Options with Saxo today. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Like other life sciences companies involved in Covid-19 vaccine. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. 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.. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Can you feel the ground moving beneath your feet? The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. 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. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. If they invent a miracle treatment for a condition, the money will find its way to the stock. The latest closing stock price for Ocugen as of March 03, 2023 is. Keith Speights for 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. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. All rights reserved. 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. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. 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. At the beginning of 2020, Ocugen shares were trading at just 47 cents. Instead, this appears destined to join the long list of failed biotech startups. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Theres even room for more lines. Still, Ocugens balance sheet isnt as dire as its share price might suggest. 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. Copyright The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. Copy and paste multiple symbols separated by spaces. Without NeoCart, that burn likely comes down. The stock had gained some traction after they announced the Ocugen merger in April. 7 Travel Stocks to Buy Banking On Pent-Up Demand. 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. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. The Ocugen deal is a way to salvage some limited value. As of this writing, Vince Martin has no positions in any securities mentioned. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. 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. While anything is possible, I would not anticipate a miracle here. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). That's right -- they think these 10 stocks are even better buys. 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 chances of anything more are small but the rewards could be huge. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. Our 3 Top Picks. All rights reserved. Part of the proceeds will be used to support its partnership with Bharat. 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. If you missed that action, you missed all the gains. 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. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. This decision. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. The Motley Fool->. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. What Is the Best EV Stock to Buy Now? It has real products. 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. Here are three prudent steps to take. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. These symbols will be available throughout the site during your session. Do Not Sell My Personal Information (CA Residents Only). 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. So far, that merger hasnt worked out for Histogenics former shareholders. But if they do, Ocugen stock at the least looks like an intriguing bet. 2023 InvestorPlace Media, LLC. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. Ocugen estimates the drug could have as many as 63,000 potential patients. It means that raising capital will be more difficult going forward. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. 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! It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. 1125 N. Charles St, Baltimore, MD 21201. That doesnt mean success is guaranteed. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. If Ocugen goes up, you can still profit. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. 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. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. 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 company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Thats the thing with these low-priced penny stocks. The median estimate. But the allure of the space is that when a company wins, its shareholders win big. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com.
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