Why Ocugen Stock Is Crushing It Today | Nasdaq In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. 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. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. See disclosure here. What Is the Best EV Stock to Buy Now? Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Type a symbol or company name. Do Not Sell My Personal Information (CA Residents Only). 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. For investors new to the story, there are some positives when it comes to OCGN stock. Even at around 40 cents per share, I would consider Ocugen stock overvalued. 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. That said, for investors who understand the potential downside, there is an intriguing story here. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. 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. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Start trading Options with Saxo today. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. 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. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. The Ocugen deal is a way to salvage some limited value. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. 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. All rights reserved. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. 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. That's right -- they think these 10 stocks are even better buys. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Please check your download folder. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You canfollow Will on Twitterat @HealyWriting. Here are three prudent steps to take. And its at least possible that OCGN could wind up being a winner. Ocugen completes $100M stock sale as it works with Bharat Biotech on The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. Unfortunately for longs, OCGN is much closer to the worst of conditions. Ocugen: Peripheral Scandals Taint This Expired COVID-19 'Me-Too' Longshot OCGN does not even appear to have an apparent reason to exist. 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? Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Guys, theres no revenue here! We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. *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. Typically, I care little about financials with biotechs. 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." *Average returns of all recommendations since inception. Pricing likely would be favorable, given the lack of alternative treatments. 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. Type a symbol or company name. Ocugen isnt a promotional, fly-by-night penny stock. Keith Speights owns shares of Pfizer. Investors need to understand the risk profile here. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. But theres a big difference in having an edge flipping sub-$5 stocks vs. combing over this group as an investor looking for sound fundamentals and a mistakenly low stock price. The $25 million private placement executed before the merger brought in much-needed cash. The Ocugen deal is a way to salvage some limited value. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. It brings in no revenue. 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. The stock had gained some traction after they announced the Ocugen merger in April. 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. From a near-term standpoint, there are two key risks. 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.. Keith Speights for As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. market." Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). 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. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Please check your download folder. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The Motley Fool->. However, sometimes the optimism isn't justified. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. Theres an opportunity here. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. Can you feel the ground moving beneath your feet? It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. 1125 N. Charles St, Baltimore, MD 21201. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Instead, this appears destined to join the long list of failed biotech startups. 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.. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. Ocugen Stock Is Not for the Faint of Heart - InvestorPlace Disclaimer: The opinions expressed in this article are solely those of the featured analysts. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. Accordingly, the analyst rates OCGN a Neutral (i.e. 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. OCGN Stock Price | Ocugen Inc. Stock Quote (U.S.: Nasdaq) - MarketWatch Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. The chances of anything more are small but the rewards could be huge. It's hard to say for sure. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. 2023 InvestorPlace Media, LLC. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. The statistics support having long-term exposure to this asset class. Part of the proceeds will be used to support its partnership with Bharat. Source: Chart courtesy of StockCharts.com. All rights reserved. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. 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. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. Even before that point, the most promising candidates generally can find funding. 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. 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. It has real products. If you missed that action, you missed all the gains. These symbols will be available throughout the site during your session. OCGN | Ocugen Inc. Stock Price & News - WSJ Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Bharat Biotech has a history of successful vaccine commercialization in South Asia. The potential synergies of such a union do not seem clear. The FDA's decision not to issue EUA really wasn't all that surprising, though. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. If they invent a miracle treatment for a condition, the money will find its way to the stock. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Nasdaq CanSinoBio will be able to fund much of the development of OCU300, Ocugens flagship product that targets oGVHD (ocular graft versus host disease), a common complication of bone marrow transplants. Companies will inevitably be optimistic about their prospects for success (at least publicly). 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. However, when that occurred, Ocugen stock lost most of its value. Literally, zero. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. In this case, shares rallied about four-fold in just a few days. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. 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. How can we possibly evaluate a stock on a fundamental basis with that being reality? A $30 million market capitalization doesnt mean Ocugen has no chance. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. 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. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. Written by In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. Ocugen Stock Crashes: What Should Investors Do Now?