Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. In this case, shares rallied about four-fold in just a few days. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. 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. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. Ocugen. The chances of anything more are small but the rewards could be huge. Copyright Ocugen: Peripheral Scandals Taint This Expired COVID-19 'Me-Too' Longshot Ocugen Stock Crashes: What Should Investors Do Now? Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. Ocugen sold $25 million of stock in a private placement before the merger. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. 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. 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. 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. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. Copy and paste multiple symbols separated by spaces. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. Unfortunately for longs, OCGN is much closer to the worst of conditions. market." In that list, you can even include penny-stock trader. Accordingly, the analyst rates OCGN a Neutral (i.e. 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. Ocugen had to go an unusual route to go public. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. 7 Travel Stocks to Buy Banking On Pent-Up Demand. It's hard to say for sure. The average Ocugen stock price for the last 52 weeks is 2.10. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. 1125 N. Charles St, Baltimore, MD 21201. Other than an emphasis on cell therapies, the companies had almost nothing in common. Copyright 2023 InvestorPlace Media, LLC. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. The Motley Fool->. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. Guys, theres no revenue here! In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. Ocugen Inc Stock - OCGN Share Price Today, News and Discussion - Stocktwits Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. As of this writing, Vince Martin has no positions in any securities mentioned. A $30 million market capitalization doesnt mean Ocugen has no chance. That's not going to happen now. It means that institutional investors focused on the sector largely have passed on the pipeline. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. How can we possibly evaluate a stock on a fundamental basis with that being reality? But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. Maybe OCGN stock will be one of them again. However, when that occurred, Ocugen stock lost most of its value. 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. Events - Ocugen 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 Bharat Biotech to co-develop a COVID-19 vaccine for the U.S. market. 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 With this, the newly formed Ocugen initiated a 60:1 reverse stock split. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. The content is intended to be used for informational purposes only. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. 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. If you missed that action, you missed all the gains. 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. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. I will concede this: The one great thing about the stock market is there is a style for everyone. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. The stock had gained some traction after they announced the. These symbols will be available throughout the site during your session. quotes delayed at least 15 minutes, all others at least 20 minutes. So far, that merger hasnt worked out for Histogenics former shareholders. Keith Speights has no position in any of the stocks mentioned. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Investors were hopeful that the small drugmaker would be able to win U.S. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. You never know when they will suddenly go on a squeeze. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Keith Speights has no position in any of the stocks mentioned. Please check your download folder. The company initiated its Phase 3 trial of OCU300 back in July 2018. Still, Ocugens balance sheet isnt as dire as its share price might suggest. Lorem ipsum dolor sit amet, consectetur adipiscing elit. But any success they find will be without me as a shareholder. But if they do, Ocugen stock at the least looks like an intriguing bet. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. Investors who have owned stocks in the last year have generally experienced some big 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. Is Ocugen Stock Still Worth Buying After Its 800%-Plus Rally? Analyst In November, Bharat Biotech began Phase 3 testing of Covaxin in India. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. While anything is possible, I would not anticipate a miracle here. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. Why Ocugen Stock Is Crushing It Today | Nasdaq The Motley Fool->. But realizing value in practice usually is a difficult endeavor. 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. 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? Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. 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. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. Like other life sciences companies involved in Covid-19 vaccine. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. 1125 N. Charles St, Baltimore, MD 21201. 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. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. The stock had gained some traction after they announced the Ocugen merger in April. This decision. 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. The Motley Fool has no position in any of the stocks mentioned. Without NeoCart, that burn likely comes down. Ill be sticking to the stocks that are actually working. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Our 3 Top Picks. As of this writing, Matt did not hold a position in any of theaforementioned securities. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. 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. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. To make the world smarter, happier, and richer. It has real products. Do Not Sell My Personal Information (CA Residents Only). Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. 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.. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. ET on Friday. 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. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. All rights reserved. OCGN Stock Price | Ocugen Inc. Stock Quote (U.S.: Nasdaq) - MarketWatch Making the world smarter, happier, and richer. Emergency Use . Custom BMW. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. 1125 N. Charles St, Baltimore, MD 21201. 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. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. 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. The Ocugen deal is a way to salvage some limited value. What Is the Best EV Stock to Buy Now? 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. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. This requires no immediate effort on your part. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. From a near-term standpoint, there are two key risks. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. If they invent a miracle treatment for a condition, the money will find its way to the stock. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. quotes delayed at least 15 minutes, all others at least 20 minutes. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. Thats the thing with these low-priced penny stocks. That doesnt mean success is guaranteed. 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. 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. The latest closing stock price for Ocugen as of March 03, 2023 is. 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. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Learn More. Ocugen estimates the drug could have as many as 63,000 potential patients. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. *Stock Advisor returns as of June 7, 2021. It is very important to do your own analysis before making any investment. 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 . But just because a company does not have crippling debt doesnt mean its a buy. There Are So Many Stocks to Buy Ocugen Isn't One of Them Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. 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. Keith Speights owns shares of Pfizer. It has real management. But there is no question some big-name stocks performed better than others along the way. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. 2023 InvestorPlace Media, LLC. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. 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. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. *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. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Not an offer or recommendation by Stocktwits. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. 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. And its at least possible that OCGN could wind up being a winner. 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! Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. *Stock Advisor returns as of November 20, 2020. Maybe. These symbols will be available throughout the site during your session. 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. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. 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. Source: Chart courtesy of StockCharts.com. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. If You Invested $1,000 In Ocugen Stock One Year Ago, Here's - Insider It brings in no revenue. The odds of Ocugen stock winding up at zero are material. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. At the time, Ocugen was left for dead. For investors new to the story, there are some positives when it comes to OCGN stock. 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.. This can prove to be a costly lesson to learn. Here are three prudent steps to take. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. Ocugen Stock Is Not for the Faint of Heart - InvestorPlace Do not expect a recovery in Ocugen stock.