Investors were hopeful that the small drugmaker would be able to win U.S. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). All rights reserved. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. That's right -- they think these 10 stocks are even better buys. Long-term debt of $1.6 million is not a back-breaker either. Why Ocugen Stock Is Crushing It Today | Nasdaq It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. 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 Ocugen goes up, you can still profit. These options will be cheaper than owning the stock itself. But just because a company does not have crippling debt doesnt mean its a buy. Custom BMW. 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! *Average returns of all recommendations since inception. 7 Travel Stocks to Buy Banking On Pent-Up Demand. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. Plus500. Sign up below to get this incredible offer! Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. Conditions have only become worse since that time. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Theres an opportunity here. Ocugen estimates the drug could have as many as 63,000 potential patients. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Custom BMW #youtube #moto #motorcycle #bike #youtubeshorts #shorts This decision. Without NeoCart, that burn likely comes down. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. 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. Copyright 2023 InvestorPlace Media, LLC. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. 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. 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.. How long might it take for Ocugen to win full FDA approval for Covaxin? 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. Ocugen: Peripheral Scandals Taint This Expired COVID-19 'Me-Too' Longshot All rights reserved. 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. However, when that occurred, Ocugen stock lost most of its value. It means that raising capital will be more difficult going forward. *Stock Advisor returns as of November 20, 2020. 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. Ocugen isnt a promotional, fly-by-night penny stock. 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. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. You canfollow Will on Twitterat @HealyWriting. Investors should worry about companies with no revenue even under the best of circumstances. 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. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. To be sure, current cash isnt enough. The average Ocugen stock price for the last 52 weeks is 2.10. Keith Speights for 1125 N. Charles St, Baltimore, MD 21201. 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? In November, Bharat Biotech began Phase 3 testing of Covaxin in India. Ocugen Stock Is Not for the Faint of Heart - InvestorPlace On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. 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 the allure of the space is that when a company wins, its shareholders win big. Written by First, the balance sheet is in at least decent shape. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. The biotech stock promptly crashed by more than 30%. 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. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. Investing is always a game of balancing risk and reward. Concerns about the delta variant, the potential need for annual booster shots and the possibility of expanding the vaccines to children have investors hopeful that Covaxin will still eventually be a huge payoff for Ocugen. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Source: Chart courtesy of StockCharts.com. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Ocugen Stock Crashes: What Should Investors Do Now? Nasdaq Ocugen to Present at the 2018 BIO International Convention | Ocugen, Inc. 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. To make the world smarter, happier, and richer. (See OCGN stock analysis on TipRanks). Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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." If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. 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. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. ET on Friday. Theres even room for more lines. It brings in no revenue. Under the terms of the agreement, Ocugen is entitled to 45% of the profits from the commercialization of Covaxin in the U.S. and Canada. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. There's still a chance that the vaccine could receive a green light in Canada. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Is Ocugen Stock Still Worth Buying After Its 800%-Plus Rally? Analyst The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. Why Ocugen Stock Is Crashing Today | The Motley Fool - Nasdaq Hold) without suggesting a price target. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. (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. 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. 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 potential synergies of such a union do not seem clear. 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. From a near-term standpoint, there are two key risks. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. 2023 InvestorPlace Media, LLC. These symbols will be available throughout the site during your session. Do Not Sell My Personal Information (CA Residents Only). Why Everyone Is Investing in 5G All WRONG, Americas #1 Stock Picker Reveals His Next 1,000% Winner, Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company, Radical New Battery Could Dismantle Oil Markets. 1125 N. Charles St, Baltimore, MD 21201. Nasdaq The Ocugen deal is a way to salvage some limited value. Accordingly, the analyst rates OCGN a Neutral (i.e. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. 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. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. For investors new to the story, there are some positives when it comes to OCGN stock. At the beginning of 2020, Ocugen shares were trading at just 47 cents. Other than an emphasis on cell therapies, the companies had almost nothing in common. Gw pharmaceuticals stock dividends will nike stock split soon But realizing value in practice usually is a difficult endeavor. The Motley Fool has a disclosure policy. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. The Motley Fool 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. Please check your download folder. The Motley Fool has a disclosure policy. 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. You never know when they will suddenly go on a squeeze. 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. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. OCGN | Ocugen Inc. Stock Price & News - WSJ Type a symbol or company name. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. It's hard to say for sure. quotes delayed at least 15 minutes, all others at least 20 minutes. Learn More. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. So, what goes wrong? You could sell some or all of your Ocugen shares and buy long-term call options on the stock. 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. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. The odds of Ocugen stock winding up at zero are material. A $30 million market capitalization doesnt mean Ocugen has no chance. That's right -- they think these 10 stocks are even better buys. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. How can we possibly evaluate a stock on a fundamental basis with that being reality? Those lessons will vary between different investors, but I'll point out a major one to keep in mind. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. 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. Do not expect a recovery in Ocugen stock. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. 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. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. But if they do, Ocugen stock at the least looks like an intriguing bet. The Motley Fool has a disclosure policy. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Keith Speights owns shares of Pfizer. 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. 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. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. OCGN - Ocugen Inc Forecast - CNNMoney.com - CNN Business All rights reserved. In that list, you can even include penny-stock trader. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Bharat Biotech has a history of successful vaccine commercialization in South Asia. 2023 InvestorPlace Media, LLC. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. 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.. 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. Honestly, OCGN stock is unlikely to survive. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. market." The chances of anything more are small but the rewards could be huge. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Copy and paste multiple symbols separated by spaces. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. 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. That's not going to happen now. 1125 N. Charles St, Baltimore, MD 21201. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Pricing likely would be favorable, given the lack of alternative treatments. Ocugen Inc. is a clinical stage biopharmaceutical company. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. 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. The Ocugen deal is a way to salvage some limited value. And its at least possible that OCGN could wind up being a winner. That said, for investors who understand the potential downside, there is an intriguing story here. However, even from this limited vantage point, OCGN appears destined to fail. Here are three prudent steps to take. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. 1125 N. Charles St, Baltimore, MD 21201. But any success they find will be without me as a shareholder. Type a symbol or company name. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. 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 A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. While anything is possible, I would not anticipate a miracle here. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Click here to see what Matt has up his sleeve now. Making the world smarter, happier, and richer. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. 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. 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. The company stated that it will pursue a path to file for full FDA approval of Covaxin.