Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. 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. 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. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. 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. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Part of the proceeds will be used to support its partnership with Bharat. 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." The Motley Fool recommends Moderna Inc. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. Keith Speights for 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. Keith Speights owns shares of Pfizer. Pricing likely would be favorable, given the lack of alternative treatments. And its at least possible that OCGN could wind up being a winner. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Histogenics itself highlights the risks involved in small-cap biotech. The odds of Ocugen stock winding up at zero are material. Investors were hopeful that the small drugmaker would be able to win U.S. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. Written by In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Ocugen estimates the drug could have as many as 63,000 potential patients. That doesnt mean success is guaranteed. 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. Its certainly possible. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. But there is no question some big-name stocks performed better than others along the way. That's not going to happen now. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. 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! Please check your download folder. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. Lorem ipsum dolor sit amet, consectetur adipiscing elit. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. The Motley Fool has a disclosure policy. These options will be cheaper than owning the stock itself. *Stock Advisor returns as of June 7, 2021. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. 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. 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. 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. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. Nasdaq Invest better with The Motley Fool. Source: Chart courtesy of StockCharts.com. 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. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. While anything is possible, I would not anticipate a miracle here. Ocugen Inc. is a clinical stage biopharmaceutical company. 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! Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. Do not expect a recovery in Ocugen stock. 7 Travel Stocks to Buy Banking On Pent-Up Demand. Making the world smarter, happier, and richer. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. Other than an emphasis on cell therapies, the companies had almost nothing in common. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. Thats the thing with these low-priced penny stocks. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. First, the balance sheet is in at least decent shape. All rights reserved. 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 agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Emergency Use . Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. The next key catalyst for the biotech stock could be the announcement of the details of the plan to win EUA for Covaxin in the U.S. market. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. 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. 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. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. The Ocugen deal is a way to salvage some limited value. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. 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. Copyright 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. As of this writing, Matt did not hold a position in any of theaforementioned securities. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Investors were hopeful that the small drugmaker would be able to win U.S. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. At the time, Ocugen was left for dead. The average Ocugen stock price for the last 52 weeks is 2.10. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. The Motley Fool has a disclosure policy. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. At the beginning of 2020, Ocugen shares were trading at just 47 cents. 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. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. However, when that occurred, Ocugen stock lost most of its value. 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. All rights reserved. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. 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? What Is the Best EV Stock to Buy Now? In that list, you can even include penny-stock trader. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. That's right -- they think these 10 stocks are even better buys. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. So, what goes wrong? With this, the newly formed Ocugen initiated a 60:1 reverse stock split. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Its all about choice. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. Written by Literally, zero. This requires no immediate effort on your part. *Stock Advisor returns as of November 20, 2020. As of this writing, Vince Martin has no positions in any securities mentioned. Ocugen isnt a promotional, fly-by-night penny stock. *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. 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. To make the world smarter, happier, and richer. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. 2023 InvestorPlace Media, LLC. Honestly, OCGN stock is unlikely to survive. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. 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 2023 InvestorPlace Media, LLC. 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. What should investors do now? The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. The Ocugen deal is a way to salvage some limited 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. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. If Ocugen goes up, you can still profit. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. The short answer is: everything. 1125 N. Charles St, Baltimore, MD 21201. Even before that point, the most promising candidates generally can find funding. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. 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. 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. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. Ill be sticking to the stocks that are actually working. Maybe OCGN stock will be one of them again. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. 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. 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. 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. Theres even room for more lines. But it does mean something. Bharat Biotech has a history of successful vaccine commercialization in South Asia. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. Type a symbol or company name. 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. OCGN does not even appear to have an apparent reason to exist. The FDA's decision not to issue EUA really wasn't all that surprising, though. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). That said, for investors who understand the potential downside, there is an intriguing story here. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Guys, theres no revenue here! Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. Cost basis and return based on previous market day close. 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. 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. Even at around 40 cents per share, I would consider Ocugen stock overvalued. The statistics support having long-term exposure to this asset class. Type a symbol or company name. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. Do Not Sell My Personal Information (CA Residents Only). You could sell some or all of your Ocugen shares and buy long-term call options on the stock. The stock had gained some traction after they announced the. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. 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 The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. The stock had gained some traction after they announced the Ocugen merger in April. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Conditions have only become worse since that time. If OCU300 is approved, theres a reasonably large market. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. 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. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. A $30 million market capitalization doesnt mean Ocugen has no chance. 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. 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. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. These symbols will be available throughout the site during your session. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. The latest closing stock price for Ocugen as of March 03, 2023 is. However, sometimes the optimism isn't justified. Copyright Do Not Sell My Personal Information (CA Residents Only). Learn More. Unfortunately for longs, OCGN is much closer to the worst of conditions. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. Instead, this appears destined to join the long list of failed biotech startups. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Sign up below to get this incredible offer! The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. 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. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. You canfollow Will on Twitterat @HealyWriting. 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. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. Our 3 Top Picks. Long-term debt of $1.6 million is not a back-breaker either. Custom BMW. Copy and paste multiple symbols separated by spaces. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). It is very important to do your own analysis before making any investment. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. 1125 N. Charles St, Baltimore, MD 21201. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). How can we possibly evaluate a stock on a fundamental basis with that being reality? Type a symbol or company name. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. Like other life sciences companies involved in Covid-19 vaccine. That product drives the current bull case for Ocugen stock. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. Investors need to understand the risk profile here. There's still a chance that the vaccine could receive a green light in Canada. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. You never know when they will suddenly go on a squeeze. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials.
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