Accordingly, the analyst rates OCGN a Neutral (i.e. Please check your download folder. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. In that list, you can even include penny-stock trader. The odds of Ocugen stock winding up at zero are material. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. Unfortunately for longs, OCGN is much closer to the worst of conditions. Still, Ocugens balance sheet isnt as dire as its share price might suggest. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The stock had gained some traction after they announced the Ocugen merger in April. At the beginning of 2020, Ocugen shares were trading at just 47 cents. What Is the Best EV Stock to Buy Now? Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Sign up below to get this incredible offer! Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. 1125 N. Charles St, Baltimore, MD 21201. 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. 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." Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. The Ocugen deal is a way to salvage some limited value. This requires no immediate effort on your part. Thats the thing with these low-priced penny stocks. Type a symbol or company name. (See OCGN stock analysis on TipRanks). 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. A $30 million market capitalization doesnt mean Ocugen has no chance. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Create your Watchlist to save your favorite quotes on Nasdaq.com. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. 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. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Nasdaq Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Nasdaq The Ocugen deal is a way to salvage some limited value. To make the world smarter, happier, and richer. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. 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. Without NeoCart, that burn likely comes down. What Is the Best EV Stock to Buy Now? The Motley Fool has a disclosure policy. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. Ocugen sold $25 million of stock in a private placement before the merger. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). 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. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Our 3 Top Picks. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. 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. Emergency Use . Bharat Biotech has a history of successful vaccine commercialization in South Asia. It has no treatments to offer the market. Literally, zero. For now, though, what happens in India stays in India. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. Source: Chart courtesy of StockCharts.com. 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. Ocugen. Companies will inevitably be optimistic about their prospects for success (at least publicly). Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. But just because a company does not have crippling debt doesnt mean its a buy. Written by If OCU300 is approved, theres a reasonably large market. (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. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. First, the balance sheet is in at least decent shape. 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. Plus500. 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. 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. 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. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. 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. Copyright 2023 InvestorPlace Media, LLC. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. You never know when they will suddenly go on a squeeze. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). 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. 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 Motley Fool has no position in any of the stocks mentioned. That doesnt mean success is guaranteed. Histogenics itself highlights the risks involved in small-cap biotech. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. Copy and paste multiple symbols separated by spaces. I will concede this: The one great thing about the stock market is there is a style for everyone. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. 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. 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. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. Maybe. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. 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! Pricing likely would be favorable, given the lack of alternative treatments. The biotech stock promptly crashed by more than 30%. 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. Sign up below to get this incredible offer! Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. 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. 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. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. 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 worst news was that another late-stage clinical study will likely be required to support the regulatory filing. Investors should worry about companies with no revenue even under the best of circumstances. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. However, I wont be around to find out. Investing is always a game of balancing risk and reward. The FDA's decision not to issue EUA really wasn't all that surprising, though. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. Typically, I care little about financials with biotechs. 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? Please check your download folder. quotes delayed at least 15 minutes, all others at least 20 minutes. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Cost basis and return based on previous market day close. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. What should investors do now? 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. As of this writing, Matt did not hold a position in any of theaforementioned securities. 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. From a near-term standpoint, there are two key risks. *Average returns of all recommendations since inception. Keith Speights has no position in any of the stocks mentioned. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. Copyright Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. Theres even room for more lines. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Invest better with The Motley Fool. Copyright 2023 InvestorPlace Media, LLC. 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. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Copyright Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. Can you feel the ground moving beneath your feet? *Stock Advisor returns as of June 7, 2021. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Do Not Sell My Personal Information (CA Residents Only). Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. 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. In this case, shares rallied about four-fold in just a few days. The Motley Fool recommends Moderna Inc. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. 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. Investors were hopeful that the small drugmaker would be able to win U.S. Type a symbol or company name. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. 7 Travel Stocks to Buy Banking On Pent-Up Demand. 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. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. 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. Copy and paste multiple symbols separated by spaces. 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. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. The median estimate. Instead, this appears destined to join the long list of failed biotech startups. Like other life sciences companies involved in Covid-19 vaccine. 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! Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. To be sure, current cash isnt enough. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Ill be sticking to the stocks that are actually working. quotes delayed at least 15 minutes, all others at least 20 minutes. 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.
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