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. Investors need to understand the risk profile here. Ocugen had to go an unusual route to go public. 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 sold $25 million of stock in a private placement before the merger. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. 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. Part of the proceeds will be used to support its partnership with Bharat. Even though Ocugen did raise $25 million in a private placement, the story behind OCU300 clearly was not enough to support an initial public offering on its own. Maybe. Histogenics itself highlights the risks involved in small-cap biotech. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. Accordingly, the analyst rates OCGN a Neutral (i.e. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. 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. Long-term debt of $1.6 million is not a back-breaker either. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. The Motley Fool->. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. All rights reserved. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. Keith Speights has no position in any of the stocks mentioned. At the time, Ocugen was left for dead. (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. Bharat Biotech has a history of successful vaccine commercialization in South Asia. Events - Ocugen After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. Can you feel the ground moving beneath your feet? Plus500. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. 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. I will concede this: The one great thing about the stock market is there is a style for everyone. If they invent a miracle treatment for a condition, the money will find its way to the stock. However, sometimes the optimism isn't justified. That's not going to happen now. Ocugen to Present at the 2018 BIO International Convention | Ocugen, Inc. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. 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. Ill be sticking to the stocks that are actually working. OCGN | Ocugen Inc. Stock Price & News - WSJ Ocugen Inc. OCGN (U.S.: Nasdaq) REAL TIME 12:30 PM EST 02/21/23 $0.9819USD -0.0981 -9.08% Volume 3,761,699 65 Day Avg Vol 5,026,332 1 Day Range. This can prove to be a costly lesson to learn. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. 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. But just because a company does not have crippling debt doesnt mean its a buy. Ocugen - Stock Price History | OCGN | MacroTrends From a near-term standpoint, there are two key risks. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. Ocugen completes $100M stock sale as it works with Bharat Biotech on Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. 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. 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. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. Ocugen Inc Stock - OCGN Share Price Today, News and Discussion - Stocktwits OCGN Stock Price | Ocugen Inc. Stock Quote (U.S.: Nasdaq) - MarketWatch It took Moderna roughly 10 months from the initiation of the late-stage study for its COVID-19 vaccine to the point where the company filed for full FDA approval. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Create your Watchlist to save your favorite quotes on Nasdaq.com. If You Invested $1,000 In Ocugen Stock One Year Ago, Here's - Insider The biotech stock promptly crashed by more than 30%. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. 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. Companies will inevitably be optimistic about their prospects for success (at least publicly). Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. If they have solid financials, but their trials continually fail, they will likely not succeed. Written by Even before that point, the most promising candidates generally can find funding. At the beginning of 2020, Ocugen shares were trading at just 47 cents. 1125 N. Charles St, Baltimore, MD 21201. 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. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. All rights reserved. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. Gw pharmaceuticals stock dividends will nike stock split soon 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? Sign up below to get this incredible offer! That product drives the current bull case for Ocugen stock. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. Keith Speights for We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. But there is no question some big-name stocks performed better than others along the way. 1125 N. Charles St, Baltimore, MD 21201. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. quotes delayed at least 15 minutes, all others at least 20 minutes. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. The average Ocugen stock price for the last 52 weeks is 2.10. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. 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. Most biotech companies have intriguing stories on paper; Ocugen is no different. It has real products. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. 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. Custom BMW. 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. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. Do not expect a recovery in Ocugen stock. 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. OCGN | Ocugen Inc. Stock Price & News - WSJ The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. Copyright 2023 InvestorPlace Media, LLC. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. 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's hard to say for sure. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. Ocugen Stock Is Not for the Faint of Heart - InvestorPlace 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. Literally, zero. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). 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. Unfortunately for longs, OCGN is much closer to the worst of conditions. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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? Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. The odds of Ocugen stock winding up at zero are material. Type a symbol or company name. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. See disclosure here. *Stock Advisor returns as of June 7, 2021. The Motley Fool recommends Moderna Inc. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Copyright Investing is always a game of balancing risk and reward. 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. The short answer is: everything. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. For priority reviews, the timeline for an approval decision is reduced to six months. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. Keith Speights for The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Investors should worry about companies with no revenue even under the best of circumstances. But it does mean something. Source: Chart courtesy of StockCharts.com. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). The second is that the balance sheet still needs some help. 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. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. The Motley Fool has no position in any of the stocks mentioned. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. The Motley Fool has a disclosure policy. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. For investors new to the story, there are some positives when it comes to OCGN stock. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. What Is the Best EV Stock to Buy Now? Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. But theres a big difference in having an edge flipping sub-$5 stocks vs. combing over this group as an investor looking for sound fundamentals and a mistakenly low stock price. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). Other than an emphasis on cell therapies, the companies had almost nothing in common. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. 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.. Its all about choice. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Without NeoCart, that burn likely comes down. To be sure, current cash isnt enough. 2023 InvestorPlace Media, LLC. If you missed that action, you missed all the gains. The FDA's decision not to issue EUA really wasn't all that surprising, though. But realizing value in practice usually is a difficult endeavor. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. While anything is possible, I would not anticipate a miracle here. So, what goes wrong? 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. The company initiated its Phase 3 trial of OCU300 back in July 2018. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. 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. Written by 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. Copyright Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. Guys, theres no revenue here! Ocugen Inc First Quarter 2022 Financial Results and Recent Business Highlights 04/21/2022 Noble Capital Markets' Eighteenth Annual Investor Conference 03/14/2022 34th Annual ROTH Conference 02/25/2022 Ocugen, Inc. Q4 and Full Year 2021 Financial Results and Recent Business Highlights 01/10/2022 H.C. Wainwright Bioconnect Conference 12/22/2021 Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. The Motley Fool has no position in any of the stocks mentioned. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. 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. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. If OCU300 is approved, theres a reasonably large market. Theres even room for more lines. Not an offer or recommendation by Stocktwits. 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. You never know when they will suddenly go on a squeeze. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. 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. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline.