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Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. This decision. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. Type a symbol or company name. Accordingly, the analyst rates OCGN a Neutral (i.e. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. Unfortunately for longs, OCGN is much closer to the worst of conditions. Ocugen isnt a promotional, fly-by-night penny stock. That said, for investors who understand the potential downside, there is an intriguing story here. Nasdaq If OCU300 is approved, theres a reasonably large market. 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. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Its all about choice. I will concede this: The one great thing about the stock market is there is a style for everyone. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) It brings in no revenue. 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. The stock had gained some traction after they announced the Ocugen merger in April. 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. These symbols will be available throughout the site during your session. 1125 N. Charles St, Baltimore, MD 21201. Making the world smarter, happier, and richer. Do Not Sell My Personal Information (CA Residents Only). Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. That product drives the current bull case for Ocugen stock. Start trading Options with Saxo today. It means that raising capital will be more difficult going forward. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. But any success they find will be without me as a shareholder. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Considering Bharats reputation for world-class R&D and manufacturing capabilities in vaccines and bio-therapeutics, H.C. Wainwright analyst Swayampakula Ramakanth thinks the company is a suitable partner.. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. These options will be cheaper than owning the stock itself. The Motley Fool has a disclosure policy. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. All rights reserved. The Motley Fool recommends Moderna Inc. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. Please check your download folder. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. The Motley Fool has no position in any of the stocks mentioned. Do not expect a recovery in Ocugen stock. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. It's hard to say for sure. Investing is always a game of balancing risk and reward. 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. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. 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. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. If Ocugen goes up, you can still profit. Investors should worry about companies with no revenue even under the best of circumstances. All rights reserved. 2023 InvestorPlace Media, LLC. It has real products. 1125 N. Charles St, Baltimore, MD 21201. For priority reviews, the timeline for an approval decision is reduced to six months. 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. Its worth emphasizing: Ocugen stock is a play with enormous risk. 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 market capitalization of Relmada Therapeutics (NASDAQ:RLMD) went from under $10 million at the end of 2017 to over $500 million at the moment. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Emergency Use . Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). 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. Hold) without suggesting a price target. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). 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. It means that institutional investors focused on the sector largely have passed on the pipeline. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. Guys, theres no revenue here! However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. ET on Friday. The short answer is: everything. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Literally, zero. The Motley Fool has no position in any of the stocks mentioned. Type a symbol or company name. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. Copyright Thats the thing with these low-priced penny stocks. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. It has no treatments to offer the market. 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! In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. Its certainly possible. 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. All rights reserved. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Please check your download folder. The content is intended to be used for informational purposes only. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. The statistics support having long-term exposure to this asset class. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. 7 Travel Stocks to Buy Banking On Pent-Up Demand. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. 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. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. Keith Speights for Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. Copyright 2023 InvestorPlace Media, LLC. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. Ill be sticking to the stocks that are actually working. 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. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Ocugen had to go an unusual route to go public. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. 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. The stock had gained some traction after they announced the. And its at least possible that OCGN could wind up being a winner. Most biotech companies have intriguing stories on paper; Ocugen is no different. *Stock Advisor returns as of November 20, 2020. Ocugen. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. 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.