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." Our 3 Top Picks. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. While anything is possible, I would not anticipate a miracle here. 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. Theres even room for more lines. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. A $30 million market capitalization doesnt mean Ocugen has no chance. 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. 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. Its certainly possible the deal will fall through, leaving Ocugen with just the $15.8 million in cash with which it closed the third quarter, according to its 10-Q. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. Keith Speights owns shares of Pfizer. 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. Nasdaq 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. 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. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. The average Ocugen stock price for the last 52 weeks is 2.10. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Copyright Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. At the beginning of 2020, Ocugen shares were trading at just 47 cents. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. 1125 N. Charles St, Baltimore, MD 21201. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. 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. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Other than an emphasis on cell therapies, the companies had almost nothing in common. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. Do Not Sell My Personal Information (CA Residents Only). The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. It's hard to say for sure. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. The content is intended to be used for informational purposes only. Honestly, OCGN stock is unlikely to survive. 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. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. Start trading Options with Saxo today. The Motley Fool->. The Motley Fool has no position in any of the stocks mentioned. Investors need to understand the risk profile here. 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. 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. 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. If they invent a miracle treatment for a condition, the money will find its way to the stock. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. 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. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. 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. 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. market." Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. 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. 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? Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. 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 In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. 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. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. 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. Keith Speights for Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. How long might it take for Ocugen to win full FDA approval for Covaxin? Copyright *Stock Advisor returns as of November 20, 2020. See disclosure here. Please check your download folder. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. Its worth emphasizing: Ocugen stock is a play with enormous risk. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. Custom BMW. Learn More. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Can you feel the ground moving beneath your feet? Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. 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. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. Part of the proceeds will be used to support its partnership with Bharat. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. From a near-term standpoint, there are two key risks. The Ocugen deal is a way to salvage some limited value. If OCU300 is approved, theres a reasonably large market. Its certainly possible. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Do Not Sell My Personal Information (CA Residents Only). 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. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. 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 simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). If Ocugen goes up, you can still profit. As of this writing, Vince Martin has no positions in any securities mentioned. Investors who have owned stocks in the last year have generally experienced some big gains. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. The FDA's decision not to issue EUA really wasn't all that surprising, though. With $3.2 million in cash vs. current liabilities of $3.3 million, Ocugen likely has enough cash on hand to cover its short-term obligations. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. At the time, Ocugen was left for dead. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. How can we possibly evaluate a stock on a fundamental basis with that being reality? The potential synergies of such a union do not seem clear. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. Copyright 2023 InvestorPlace Media, LLC. Maybe OCGN stock will be one of them again. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. That's right -- they think these 10 stocks are even better buys. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. Source: Chart courtesy of StockCharts.com. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. 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.. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. Create your Watchlist to save your favorite quotes on Nasdaq.com. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. 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. All rights reserved. Please check your download folder. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. 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. Theres an opportunity here. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. But any success they find will be without me as a shareholder. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. Plus500. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. That product drives the current bull case for Ocugen stock. The Motley Fool has a disclosure policy. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Investing is always a game of balancing risk and reward. Thats the thing with these low-priced penny stocks. It means that raising capital will be more difficult going forward. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. 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?
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