The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. Not an offer or recommendation by Stocktwits. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. Emergency Use . The company stated that it will pursue a path to file for full FDA approval of Covaxin. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. Instead, this appears destined to join the long list of failed biotech startups. That's right -- they think these 10 stocks are even better buys. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). 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. 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. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Investors who have owned stocks in the last year have generally experienced some big gains. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. You canfollow Will on Twitterat @HealyWriting. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. 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. What should investors do now? It has real products. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. The latest closing stock price for Ocugen as of March 03, 2023 is. *Stock Advisor returns as of November 20, 2020. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. Do Not Sell My Personal Information (CA Residents Only). Maybe. The median estimate. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. 1125 N. Charles St, Baltimore, MD 21201. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. The stock had gained some traction after they announced the. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. Type a symbol or company name. First, the balance sheet is in at least decent shape. 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. But it does mean something. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. Learn More. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. Investors were hopeful that the small drugmaker would be able to win U.S. 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. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. If Ocugen goes up, you can still profit. The Motley Fool has a disclosure policy. At the time, Ocugen was left for dead. 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. If you missed that action, you missed all the gains. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. 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. 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. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. 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 InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Ocugen sold $25 million of stock in a private placement before the merger. 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. 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! CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. 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. Nasdaq The company initiated its Phase 3 trial of OCU300 back in July 2018. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. So far, that merger hasnt worked out for Histogenics former shareholders. 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. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. All rights reserved. But realizing value in practice usually is a difficult endeavor. The Ocugen deal is a way to salvage some limited value. Can you feel the ground moving beneath your feet? Histogenics itself highlights the risks involved in small-cap biotech. These options will be cheaper than owning the stock itself. 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. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). In this case, shares rallied about four-fold in just a few days. 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 sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). 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? Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. Copy and paste multiple symbols separated by spaces. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. The Motley Fool->. These symbols will be available throughout the site during your session. 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. The Ocugen deal is a way to salvage some limited value. Bharat Biotech has a history of successful vaccine commercialization in South Asia. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. However, when that occurred, Ocugen stock lost most of its value. 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. 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. Conditions have only become worse since that time. Most biotech companies have intriguing stories on paper; Ocugen is no different. At the beginning of 2020, Ocugen shares were trading at just 47 cents. Copyright 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. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. 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's hard to say for sure. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. 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. These symbols will be available throughout the site during your session. The second is that the balance sheet still needs some help. 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. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. Plus500. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. 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. To be sure, current cash isnt enough. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. 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. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. 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. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. The FDA's decision not to issue EUA really wasn't all that surprising, though. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. 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. 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. As of this writing, Matt did not hold a position in any of theaforementioned securities. The potential synergies of such a union do not seem clear. 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. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Copyright Copy and paste multiple symbols separated by spaces. Click here to see what Matt has up his sleeve now. 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. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. Ocugen estimates the drug could have as many as 63,000 potential patients. Pricing likely would be favorable, given the lack of alternative treatments. 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. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. The Motley Fool has no position in any of the stocks mentioned. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. That said, for investors who understand the potential downside, there is an intriguing story here. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. *Average returns of all recommendations since inception. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. quotes delayed at least 15 minutes, all others at least 20 minutes. The biotech stock promptly crashed by more than 30%. Maybe OCGN stock will be one of them again. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Ocugen had to go an unusual route to go public. 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? Theres an opportunity here. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1.
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