Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. Keith Speights for 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. The potential synergies of such a union do not seem clear. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Please check your download folder. 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. 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. These symbols will be available throughout the site during your session. These options will be cheaper than owning the stock itself. 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. 1125 N. Charles St, Baltimore, MD 21201. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. To make the world smarter, happier, and richer. Our 3 Top Picks. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. 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. If they have solid financials, but their trials continually fail, they will likely not succeed. In that list, you can even include penny-stock trader. See disclosure here. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. 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. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. 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. 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. Maybe. Plus500. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. Click here to see what Matt has up his sleeve now. Ocugen does have at least 180 days to cure that problem, but the simplest answer is for the company to execute a reverse stock split. Ill be sticking to the stocks that are actually working. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. Do not expect a recovery in Ocugen stock. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. For now, though, what happens in India stays in India. That doesnt mean success is guaranteed. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. Create your Watchlist to save your favorite quotes on Nasdaq.com. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. 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 Inc Stock - OCGN Share Price Today, News and Discussion - Stocktwits Theres an opportunity here. Even at around 40 cents per share, I would consider Ocugen stock overvalued. First, the balance sheet is in at least decent shape. All rights reserved. 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. Even before that point, the most promising candidates generally can find funding. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. There Are So Many Stocks to Buy Ocugen Isn't One of Them Maybe OCGN stock will be one of them again. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. There's still a chance that the vaccine could receive a green light in Canada. OCGN Stock Price | Ocugen Inc. Stock Quote (U.S.: Nasdaq) - MarketWatch Part of the proceeds will be used to support its partnership with Bharat. Ocugen stock jumps following positive Covid vaccine study results Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. 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. 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. The equity has experienced a continual decline for years. It has no treatments to offer the market. How can we possibly evaluate a stock on a fundamental basis with that being reality? The Motley Fool has no position in any of the stocks mentioned. 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 no revenue, runs an annual deficit, and does not generate positive free cash flow. 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.. Other than an emphasis on cell therapies, the companies had almost nothing in common. Gw pharmaceuticals stock dividends will nike stock split soon How long might it take for Ocugen to win full FDA approval for Covaxin? Start trading Options with Saxo today. Do Not Sell My Personal Information (CA Residents Only). The Motley Fool->. 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. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. Ocugen Stock Crashes: What Should Investors Do Now? Long-term debt of $1.6 million is not a back-breaker either. 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. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. 1125 N. Charles St, Baltimore, MD 21201. Type a symbol or company name. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. At the beginning of 2020, Ocugen shares were trading at just 47 cents. The Motley Fool has a disclosure policy. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. 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? Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. 1125 N. Charles St, Baltimore, MD 21201. From a near-term standpoint, there are two key risks. Don't Get Greedy With Ocugen Stock, Says Analyst Typically, I care little about financials with biotechs. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. 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. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. 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. Keith Speights has no position in any of the stocks mentioned. 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. 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. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. 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. Investors should worry about companies with no revenue even under the best of circumstances. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. All rights reserved. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. But just because a company does not have crippling debt doesnt mean its a buy. Copyright 2023 InvestorPlace Media, LLC. But if they do, Ocugen stock at the least looks like an intriguing bet. However, even from this limited vantage point, OCGN appears destined to fail. Invest better with The Motley Fool. The second is that the balance sheet still needs some help. 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. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. At the time, Ocugen was left for dead. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. You canfollow Will on Twitterat @HealyWriting. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) 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 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. But realizing value in practice usually is a difficult endeavor. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. That's right -- they think these 10 stocks are even better buys. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. Ocugen estimates the drug could have as many as 63,000 potential patients. Type a symbol or company name. Guys, theres no revenue here! Pricing likely would be favorable, given the lack of alternative treatments. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. That's not going to happen now. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. 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. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. 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. Emergency Use . 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. Custom BMW #youtube #moto #motorcycle #bike #youtubeshorts #shorts If it goes down, your loss won't be as great as it would be if you held onto all of your shares. Investors need to understand the risk profile here. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. OCGN - Ocugen Inc Forecast - CNNMoney.com - CNN Business Making the world smarter, happier, and richer. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. Copy and paste multiple symbols separated by spaces. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Events - Ocugen Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. For priority reviews, the timeline for an approval decision is reduced to six months. The statistics support having long-term exposure to this asset class. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Please check your download folder. Instead, this appears destined to join the long list of failed biotech startups. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases.