It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. Still, Ocugens balance sheet isnt as dire as its share price might suggest. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. Custom BMW. Its worth emphasizing: Ocugen stock is a play with enormous risk. The Motley Fool->. 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. 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. The stock had gained some traction after they announced the Ocugen merger in April. 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. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. 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 second is that the balance sheet still needs some help. Can you feel the ground moving beneath your feet? The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. Not an offer or recommendation by Stocktwits. 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. 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. Companies will inevitably be optimistic about their prospects for success (at least publicly). Nasdaq Create your Watchlist to save your favorite quotes on Nasdaq.com. Click here to see what Matt has up his sleeve now. All rights reserved. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. It has no treatments to offer the market. *Average returns of all recommendations since inception. Copy and paste multiple symbols separated by spaces. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Instead, this appears destined to join the long list of failed biotech startups. The stock had gained some traction after they announced the. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. What Is the Best EV Stock to Buy Now? Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. 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. Ocugen isnt a promotional, fly-by-night penny stock. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). Copyright 2023 InvestorPlace Media, LLC. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Keith Speights has no position in any of the stocks mentioned. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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! What Is the Best EV Stock to Buy Now? 2023 InvestorPlace Media, LLC. As of this writing, Matt did not hold a position in any of theaforementioned securities. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. 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. All rights reserved. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have 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. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. The equity has experienced a continual decline for years. Part of the proceeds will be used to support its partnership with Bharat. Unfortunately for longs, OCGN is much closer to the worst of conditions. It has real products. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Typically, I care little about financials with biotechs. All rights reserved. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. But any success they find will be without me as a shareholder. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. That said, for investors who understand the potential downside, there is an intriguing story here. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. Do Not Sell My Personal Information (CA Residents Only). Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. 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. At the beginning of 2020, Ocugen shares were trading at just 47 cents. 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. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Type a symbol or company name. The Motley Fool has a disclosure policy. Keith Speights for Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. 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. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. Even at around 40 cents per share, I would consider Ocugen stock overvalued. Cost basis and return based on previous market day close. (See OCGN stock analysis on TipRanks). 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 means that raising capital will be more difficult going forward. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. 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." Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. Sign up below to get this incredible offer! 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. Please check your download folder. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) The $25 million private placement executed before the merger brought in much-needed cash. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. Ill be sticking to the stocks that are actually working. 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. The content is intended to be used for informational purposes only. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. 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. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. 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. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. 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. You canfollow Will on Twitterat @HealyWriting. Conditions have only become worse since that time. Source: Chart courtesy of StockCharts.com. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Copyright The S&P 500 has rallied 52.9% from the March low to its highs on August 6. Copyright 2023 InvestorPlace Media, LLC. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. Most biotech companies have intriguing stories on paper; Ocugen is no different. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. 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. The Ocugen deal is a way to salvage some limited value. 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. Long-term debt of $1.6 million is not a back-breaker either. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. 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! Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. The short answer is: everything. Like other life sciences companies involved in Covid-19 vaccine. First, the balance sheet is in at least decent shape. 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. The Motley Fool has a disclosure policy. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. If they invent a miracle treatment for a condition, the money will find its way to the stock. The Motley Fool->. That's right -- they think these 10 stocks are even better buys. 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. The potential synergies of such a union do not seem clear. In that list, you can even include penny-stock trader. 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. But if they do, Ocugen stock at the least looks like an intriguing bet. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. 1125 N. Charles St, Baltimore, MD 21201. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. Please check your download folder. The Motley Fool has no position in any of the stocks mentioned. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. This can prove to be a costly lesson to learn. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. However, sometimes the optimism isn't justified. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. quotes delayed at least 15 minutes, all others at least 20 minutes. 1125 N. Charles St, Baltimore, MD 21201. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. 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. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. 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. While anything is possible, I would not anticipate a miracle here. The Ocugen deal is a way to salvage some limited value. That's not going to happen now. market." With this, the newly formed Ocugen initiated a 60:1 reverse stock split. There's still a chance that the vaccine could receive a green light in Canada. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. From a near-term standpoint, there are two key risks. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Investing is always a game of balancing risk and reward. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. 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. The biotech stock promptly crashed by more than 30%. However, when that occurred, Ocugen stock lost most of its value. Lorem ipsum dolor sit amet, consectetur adipiscing elit. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. 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. Literally, zero. 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 After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. The chances of anything more are small but the rewards could be huge. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. All rights reserved. I will concede this: The one great thing about the stock market is there is a style for everyone. These symbols will be available throughout the site during your session. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. 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 should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. This requires no immediate effort on your part. *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. OCGN does not even appear to have an apparent reason to exist. These symbols will be available throughout the site during your session. 2023 InvestorPlace Media, LLC. But just because a company does not have crippling debt doesnt mean its a buy. Written by Thats the thing with these low-priced penny stocks. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. 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. 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. However, even from this limited vantage point, OCGN appears destined to fail. 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. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Our 3 Top Picks. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. Accordingly, the analyst rates OCGN a Neutral (i.e. And its at least possible that OCGN could wind up being a winner. But it does mean something. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. The Motley Fool has a disclosure policy. If Ocugen goes up, you can still profit. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. (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. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. Ocugen Inc. is a clinical stage biopharmaceutical company. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. For investors new to the story, there are some positives when it comes to OCGN stock. 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." *Stock Advisor returns as of November 20, 2020. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell Amryt Pharma releases Q-2 how to setup copy trading labrador gold stock that show strong revenue growth as The first split for NKE took place on October 08, Below, we'll pit these two dominant consumer-discretionary giants against each other, with an eye toward long-term . Bharat Biotech has a history of successful vaccine commercialization in South Asia. 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. Invest better with The Motley Fool. How long might it take for Ocugen to win full FDA approval for Covaxin? For priority reviews, the timeline for an approval decision is reduced to six months. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. The odds of Ocugen stock winding up at zero are material. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. What should investors do now? Ocugen. Making the world smarter, happier, and richer. Investors were hopeful that the small drugmaker would be able to win U.S. Guys, theres no revenue here! Investors should worry about companies with no revenue even under the best of circumstances. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. 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. To be sure, current cash isnt enough. Investors were hopeful that the small drugmaker would be able to win U.S. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. 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. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. Keith Speights owns shares of Pfizer. So, what goes wrong? Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. 7 Travel Stocks to Buy Banking On Pent-Up Demand. Start trading Options with Saxo today. Theres even room for more lines. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success.