Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. It means that institutional investors focused on the sector largely have passed on the pipeline. market." Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. 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.. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Honestly, OCGN stock is unlikely to survive. The $25 million private placement executed before the merger brought in much-needed cash. Most biotech companies have intriguing stories on paper; Ocugen is no different. The content is intended to be used for informational purposes only. Theres an opportunity here. That product drives the current bull case for Ocugen stock. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. 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. 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. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Making the world smarter, happier, and richer. 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. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. 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." Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. Here are three prudent steps to take. 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. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. Investors were hopeful that the small drugmaker would be able to win U.S. However, even from this limited vantage point, OCGN appears destined to fail. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. Copyright 2023 InvestorPlace Media, LLC. 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. Long-term debt of $1.6 million is not a back-breaker either. See disclosure here. quotes delayed at least 15 minutes, all others at least 20 minutes. Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Click here to see what Matt has up his sleeve now. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. Thats the thing with these low-priced penny stocks. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. The stock had gained some traction after they announced the. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. It brings in no revenue. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. But if they do, Ocugen stock at the least looks like an intriguing bet. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. Nasdaq 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. While anything is possible, I would not anticipate a miracle here. A $30 million market capitalization doesnt mean Ocugen has no chance. 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. The Motley Fool->. All rights reserved. Sign up below to get this incredible offer! Ocugen Inc. is a clinical stage biopharmaceutical company. 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. Nasdaq 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. Even before that point, the most promising candidates generally can find funding. That's not going to happen now. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. 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. That's right -- they think these 10 stocks are even better buys. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. The Motley Fool has no position in any of the stocks mentioned. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. OCGN does not even appear to have an apparent reason to exist. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. However, sometimes the optimism isn't justified. That doesnt mean success is guaranteed. 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. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. Copy and paste multiple symbols separated by spaces. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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? 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 fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. Learn More. 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. But just because a company does not have crippling debt doesnt mean its a buy. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). Ocugen isnt a promotional, fly-by-night penny stock. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. 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. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Other than an emphasis on cell therapies, the companies had almost nothing in common. 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. 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? CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. All rights reserved. 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. Type a symbol or company name. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. 1125 N. Charles St, Baltimore, MD 21201. What Is the Best EV Stock to Buy Now? This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. 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 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. But there is no question some big-name stocks performed better than others along the way. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Companies will inevitably be optimistic about their prospects for success (at least publicly). (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. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. Its worth emphasizing: Ocugen stock is a play with enormous risk. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. The potential synergies of such a union do not seem clear. 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 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. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial.