Disclaimer: The opinions expressed in this article are solely those of the featured analysts. Theres even room for more lines. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. 7 Travel Stocks to Buy Banking On Pent-Up Demand. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Keith Speights has no position in any of the stocks mentioned. Cost basis and return based on previous market day close. 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? 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." Why Ocugen Stock Dropped Today | The Motley Fool - Nasdaq It's hard to say for sure. The statistics support having long-term exposure to this asset class. Keith Speights for 1125 N. Charles St, Baltimore, MD 21201. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. 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? Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. Ocugen estimates the drug could have as many as 63,000 potential patients. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. 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. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. Like other life sciences companies involved in Covid-19 vaccine. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. What should investors do now? From a broader perspective, the risk is the same as it is across biotech: most candidates fail. quotes delayed at least 15 minutes, all others at least 20 minutes. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. 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. Written by Typically, I care little about financials with biotechs. Investors were hopeful that the small drugmaker would be able to win U.S. Why Ocugen Stock Is Crushing It Today | Nasdaq 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. But just because a company does not have crippling debt doesnt mean its a buy. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. 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." Copyright The median estimate. Ocugen completes $100M stock sale as it works with Bharat Biotech on Copy and paste multiple symbols separated by spaces. 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 abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. The average Ocugen stock price for the last 52 weeks is 2.10. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. 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. Here are three prudent steps to take. These options will be cheaper than owning the stock itself. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. All rights reserved. Theres an opportunity here. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. All rights reserved. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. If they invent a miracle treatment for a condition, the money will find its way to the stock. And its at least possible that OCGN could wind up being a winner. Maybe. (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. But if they do, Ocugen stock at the least looks like an intriguing bet. I will concede this: The one great thing about the stock market is there is a style for everyone. In this case, shares rallied about four-fold in just a few days. It has no treatments to offer the market. Lorem ipsum dolor sit amet, consectetur adipiscing elit. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Its certainly possible. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. If you missed that action, you missed all the gains. 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. For now, though, what happens in India stays in India. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. 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. Copy and paste multiple symbols separated by spaces. 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. 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. 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. Guys, theres no revenue here! 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. Sign up below to get this incredible offer! Do Not Sell My Personal Information (CA Residents Only). If OCU300 is approved, theres a reasonably large market. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). While anything is possible, I would not anticipate a miracle here. Even before that point, the most promising candidates generally can find funding. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. The FDA's decision not to issue EUA really wasn't all that surprising, though. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. Hold) without suggesting a price target. The Motley Fool has no position in any of the stocks mentioned. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The second is that the balance sheet still needs some help. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. *Stock Advisor returns as of November 20, 2020. Ocugen: Peripheral Scandals Taint This Expired COVID-19 'Me-Too' Longshot Investors should worry about companies with no revenue even under the best of circumstances. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. 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 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. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. 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. The Motley Fool has a disclosure policy. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. Ocugen sold $25 million of stock in a private placement before the merger. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. 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 first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. The biotech stock promptly crashed by more than 30%. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. The stock had gained some traction after they announced the. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Ocugen stock jumps following positive Covid vaccine study results Nasdaq Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. *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. To be sure, current cash isnt enough. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. 1125 N. Charles St, Baltimore, MD 21201. 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. For investors new to the story, there are some positives when it comes to OCGN stock. Plus500. What Is the Best EV Stock to Buy Now? There's still a chance that the vaccine could receive a green light in Canada. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. Emergency Use . The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. *Stock Advisor returns as of June 7, 2021. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. Still, Ocugens balance sheet isnt as dire as its share price might suggest. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. From a near-term standpoint, there are two key risks. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. This decision. The Ocugen deal is a way to salvage some limited value. 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. Ocugen Stock Is Not for the Faint of Heart - InvestorPlace Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. A $30 million market capitalization doesnt mean Ocugen has no chance. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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.. (See OCGN stock analysis on TipRanks). Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. 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. 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. market." Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. For priority reviews, the timeline for an approval decision is reduced to six months. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. 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 . When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. See disclosure here. Invest better with The Motley Fool. Ocugen Inc. Announces Closing of $100 Million Registered The Motley Fool has no position in any of the stocks mentioned. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. Gw pharmaceuticals stock dividends will nike stock split soon Ocugen. 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. 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. Investors need to understand the risk profile here. 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. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. Learn More. To make the world smarter, happier, and richer. 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. Type a symbol or company name. Events - Ocugen For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Why Ocugen Stock Is Crashing Today | The Motley Fool - Nasdaq 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. This requires no immediate effort on your part. Investors who have owned stocks in the last year have generally experienced some big gains. However, I wont be around to find out. It means that raising capital will be more difficult going forward. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. Histogenics itself highlights the risks involved in small-cap biotech. Conditions have only become worse since that time. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. 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. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. Literally, zero. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults.
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