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. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. The Motley Fool has no position in any of the stocks mentioned. It means that institutional investors focused on the sector largely have passed on the pipeline. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Investors were hopeful that the small drugmaker would be able to win U.S. However, when that occurred, Ocugen stock lost most of its value. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. Start trading Options with Saxo today. Do Not Sell My Personal Information (CA Residents Only). Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. It brings in no revenue. 1125 N. Charles St, Baltimore, MD 21201. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. 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. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Please check your download folder. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. *Stock Advisor returns as of June 7, 2021. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. 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 its at least possible that OCGN could wind up being a winner. 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. Investors need to understand the risk profile here. The potential synergies of such a union do not seem clear. But if they do, Ocugen stock at the least looks like an intriguing bet. That's right -- they think these 10 stocks are even better buys. 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. 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. Accordingly, the analyst rates OCGN a Neutral (i.e. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. Investors were hopeful that the small drugmaker would be able to win U.S. For investors new to the story, there are some positives when it comes to OCGN stock. Ocugen estimates the drug could have as many as 63,000 potential patients. If OCU300 is approved, theres a reasonably large market. It has real management. ET on Friday. If they have solid financials, but their trials continually fail, they will likely not succeed. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. Ill be sticking to the stocks that are actually working. Ocugen had to go an unusual route to go public. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. quotes delayed at least 15 minutes, all others at least 20 minutes. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. 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 market capitalization of Relmada Therapeutics (NASDAQ:RLMD) went from under $10 million at the end of 2017 to over $500 million at the moment. 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. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. 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. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. 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. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. In this case, shares rallied about four-fold in just a few days. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. *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. *Stock Advisor returns as of November 20, 2020. The statistics support having long-term exposure to this asset class. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. All rights reserved. This requires no immediate effort on your part. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. Copy and paste multiple symbols separated by spaces. Written by Create your Watchlist to save your favorite quotes on Nasdaq.com. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Investors who have owned stocks in the last year have generally experienced some big gains. This decision. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. These symbols will be available throughout the site during your session. 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. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. How can we possibly evaluate a stock on a fundamental basis with that being reality? When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. As of this writing, Vince Martin has no positions in any securities mentioned. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. That doesnt mean success is guaranteed. Do Not Sell My Personal Information (CA Residents Only). 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. That said, for investors who understand the potential downside, there is an intriguing story here. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. 1125 N. Charles St, Baltimore, MD 21201. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. The stock had gained some traction after they announced the Ocugen merger in April. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. 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. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. The $25 million private placement executed before the merger brought in much-needed cash. You canfollow Will on Twitterat @HealyWriting. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. So far, that merger hasnt worked out for Histogenics former shareholders. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. 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. However, even from this limited vantage point, OCGN appears destined to fail. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. If Ocugen goes up, you can still profit. At the time, Ocugen was left for dead. However, I wont be around to find out. The company stated that it will pursue a path to file for full FDA approval of Covaxin. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. It is very important to do your own analysis before making any investment. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Ocugen. 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. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. Ocugen sold $25 million of stock in a private placement before the merger. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. Investors appear to expect that Bharat's big win for Covaxin in India could translate to success for Ocugen in the U.S. On Dec. 22, Ocugen and Bharat announced a binding letter of intent to jointly develop Covaxin for the U.S. market. 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. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Our 3 Top Picks. The median estimate. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. Ocugen does have at least 180 days to cure that problem, but the simplest answer is for the company to execute a reverse stock split. The short answer is: everything. 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. 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. 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. Not an offer or recommendation by Stocktwits. Copyright 2023 InvestorPlace Media, LLC. Type a symbol or company name. 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. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. Do not expect a recovery in Ocugen stock. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. The second is that the balance sheet still needs some help. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. 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. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. 1125 N. Charles St, Baltimore, MD 21201. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. 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. Pricing likely would be favorable, given the lack of alternative treatments. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. 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. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. 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. That product drives the current bull case for Ocugen stock. From a near-term standpoint, there are two key risks. 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. *Average returns of all recommendations since inception. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Our 3 Top Picks. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. That's not going to happen now. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Cost basis and return based on previous market day close. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. 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. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. 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. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. CEO Shankar Musunuri stated that he was "pleased to say" that Ocugen was in discussions with the FDA about the data it had submitted for the pediatric EUA. Its certainly possible. Keith Speights owns shares of Pfizer. I will concede this: The one great thing about the stock market is there is a style for everyone. To make the world smarter, happier, and richer. Emergency Use . 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 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.