If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. Honestly, OCGN stock is unlikely to survive. Please check your download folder. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. Pricing likely would be favorable, given the lack of alternative treatments. Keith Speights has no position in any of the stocks mentioned. Ocugen isnt a promotional, fly-by-night penny stock. The FDA's decision not to issue EUA really wasn't all that surprising, though. Our 3 Top Picks. Copy and paste multiple symbols separated by spaces. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. These symbols will be available throughout the site during your session. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. How can we possibly evaluate a stock on a fundamental basis with that being reality? The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The equity has experienced a continual decline for years. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. The second is that the balance sheet still needs some help. The $25 million private placement executed before the merger brought in much-needed cash. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Accordingly, the analyst rates OCGN a Neutral (i.e. 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. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. 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. All rights reserved. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. 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. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. At the beginning of 2020, Ocugen shares were trading at just 47 cents. The Motley Fool->. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. *Average returns of all recommendations since inception. Type a symbol or company name. 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. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. So, what goes wrong? See disclosure here. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. You canfollow Will on Twitterat @HealyWriting. 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. 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. The biotech stock promptly crashed by more than 30%. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. 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. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Ill be sticking to the stocks that are actually working. But there is no question some big-name stocks performed better than others along the way. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. quotes delayed at least 15 minutes, all others at least 20 minutes. *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. Theres an opportunity here. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. 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? The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. That's not going to happen now. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Its worth emphasizing: Ocugen stock is a play with enormous risk. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). Ocugen Inc. is a clinical stage biopharmaceutical company. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. For priority reviews, the timeline for an approval decision is reduced to six months. Click here to see what Matt has up his sleeve now. Companies will inevitably be optimistic about their prospects for success (at least publicly). The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. 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! 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Other than an emphasis on cell therapies, the companies had almost nothing in common. 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. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. Investors were hopeful that the small drugmaker would be able to win U.S. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. In that list, you can even include penny-stock trader. To make the world smarter, happier, and richer. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. 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. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. Can you feel the ground moving beneath your feet? Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. Literally, zero. Like other life sciences companies involved in Covid-19 vaccine. Keith Speights has no position in any of the stocks mentioned. Plus500. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Thats the thing with these low-priced penny stocks. 1125 N. Charles St, Baltimore, MD 21201. 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. 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 . That's right -- they think these 10 stocks are even better buys. It has real products. 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. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. 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. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Maybe. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. That's right -- they think these 10 stocks are even better buys. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. 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. Custom BMW. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. For now, though, what happens in India stays in India. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. 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. OCGN does not even appear to have an apparent reason to exist. Typically, I care little about financials with biotechs. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. 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. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. 2023 InvestorPlace Media, LLC. However, sometimes the optimism isn't justified. 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. Type a symbol or company name. That product drives the current bull case for Ocugen stock. All rights reserved. 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 odds of Ocugen stock winding up at zero are material. However, I wont be around to find out. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Unfortunately for longs, OCGN is much closer to the worst of conditions. These symbols will be available throughout the site during your session. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. Maybe OCGN stock will be one of them again. Nasdaq A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. 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. These options will be cheaper than owning the stock itself. But realizing value in practice usually is a difficult endeavor. Ocugen stated in a press release that it plans to "continue working with the FDA to evaluate the regulatory pathway for the pediatric use of Covaxin." Do Not Sell My Personal Information (CA Residents Only). The average Ocugen stock price for the last 52 weeks is 2.10. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. Not an offer or recommendation by Stocktwits. Do not expect a recovery in Ocugen stock. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Type a symbol or company name. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. 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. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. Even at around 40 cents per share, I would consider Ocugen stock overvalued. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) What Is the Best EV Stock to Buy Now? In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Long-term debt of $1.6 million is not a back-breaker either. Theres even room for more lines. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Histogenics itself highlights the risks involved in small-cap biotech. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. Emergency Use . Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. 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 What should investors do now? One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. *Stock Advisor returns as of November 20, 2020. Create your Watchlist to save your favorite quotes on Nasdaq.com. Without NeoCart, that burn likely comes down. 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. 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. 1125 N. Charles St, Baltimore, MD 21201. 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. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. 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. Start trading Options with Saxo today. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. Type a symbol or company name. 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. 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. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. 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. The Motley Fool has a disclosure policy. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. The Motley Fool has a disclosure policy. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Copy and paste multiple symbols separated by spaces. So far, that merger hasnt worked out for Histogenics former shareholders. The Motley Fool has no position in any of the stocks mentioned. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Here are three prudent steps to take. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. Still, Ocugens balance sheet isnt as dire as its share price might suggest. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. Source: Chart courtesy of StockCharts.com. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Ocugen had to go an unusual route to go public.