Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. The statistics support having long-term exposure to this asset class. 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. I will concede this: The one great thing about the stock market is there is a style for everyone. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. Our 3 Top Picks. For now, though, what happens in India stays in India. market." Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. 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. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). 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. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Its worth emphasizing: Ocugen stock is a play with enormous risk. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. Ocugen had to go an unusual route to go public. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. 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. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Copyright 2023 InvestorPlace Media, LLC. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. Still, Ocugens balance sheet isnt as dire as its share price might suggest. 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. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. 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 anything is possible, I would not anticipate a miracle here. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. All rights reserved. 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. 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. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. Keith Speights for Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. 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. You canfollow Will on Twitterat @HealyWriting. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. The equity has experienced a continual decline for years. 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. 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. Accordingly, the analyst rates OCGN a Neutral (i.e. These symbols will be available throughout the site during your session. This decision. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Here are three prudent steps to take. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. 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. All rights reserved. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Theres even room for more lines. 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. 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. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Its all about choice. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. How can we possibly evaluate a stock on a fundamental basis with that being reality? The odds of Ocugen stock winding up at zero are material. It means that raising capital will be more difficult going forward. 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. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. Unfortunately for longs, OCGN is much closer to the worst of conditions. However, when that occurred, Ocugen stock lost most of its value. Part of the proceeds will be used to support its partnership with Bharat. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. Long-term debt of $1.6 million is not a back-breaker either. At the time, Ocugen was left for dead. 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. (See OCGN stock analysis on TipRanks). One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. 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. 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. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. 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. Type a symbol or company name. You never know when they will suddenly go on a squeeze. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. Custom BMW. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. 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. Maybe OCGN stock will be one of them again. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. Theres an opportunity here. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Making the world smarter, happier, and richer. Investors were hopeful that the small drugmaker would be able to win U.S. 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. 2023 InvestorPlace Media, LLC. Without NeoCart, that burn likely comes down. If they have solid financials, but their trials continually fail, they will likely not succeed. 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. 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 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. Can you feel the ground moving beneath your feet? For investors new to the story, there are some positives when it comes to OCGN stock. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. The stock had gained some traction after they announced the. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. 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. 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 As of this writing, Vince Martin has no positions in any securities mentioned. *Stock Advisor returns as of November 20, 2020. Thats the thing with these low-priced penny stocks. 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.. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. Theres even room for more lines. Bharat Biotech has a history of successful vaccine commercialization in South Asia. 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. Investors should worry about companies with no revenue even under the best of circumstances. Keith Speights owns shares of Pfizer. But realizing value in practice usually is a difficult endeavor. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. Plus500. The Motley Fool has no position in any of the stocks mentioned. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. 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. The $25 million private placement executed before the merger brought in much-needed cash. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. The Ocugen deal is a way to salvage some limited value. 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. 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. 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 S&P 500 has rallied 52.9% from the March low to its highs on August 6. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. Type a symbol or company name. 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. All rights reserved. So far, that merger hasnt worked out for Histogenics former shareholders. That doesnt mean success is guaranteed. The Motley Fool has a disclosure policy. 1125 N. Charles St, Baltimore, MD 21201. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. Pricing likely would be favorable, given the lack of alternative treatments. 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. To be sure, current cash isnt enough. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). Source: Chart courtesy of StockCharts.com. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Investing is always a game of balancing risk and reward. Conditions have only become worse since that time. 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. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. Instead, this appears destined to join the long list of failed biotech startups. 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. Maybe. Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). MALVERN, Pa., May 29, 2018 /PRNewswire/ -- Ocugen, Inc., a rapidly growing ophthalmology company developing a rich clinical pipeline of innovative therapies that address rare and underserved ocular diseases, today announced that it will present at the 2018 BIO International Convention, taking place June 4-7, 2018, in Boston. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. Keith Speights for It means that institutional investors focused on the sector largely have passed on the pipeline. 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. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. Even at around 40 cents per share, I would consider Ocugen stock overvalued. Guys, theres no revenue here! Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. 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. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. 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! Ocugen Inc. is a clinical stage biopharmaceutical company. 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. In this case, shares rallied about four-fold in just a few days. Click here to see what Matt has up his sleeve now. 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? The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Emergency Use . Written by Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. The Motley Fool->. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. What Is the Best EV Stock to Buy Now? We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. 1125 N. Charles St, Baltimore, MD 21201. Investors who have owned stocks in the last year have generally experienced some big gains. But it does mean something. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. The Motley Fool has a disclosure policy. If you missed that action, you missed all the gains. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. Written by It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. The chances of anything more are small but the rewards could be huge. 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. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. See disclosure here. The company initiated its Phase 3 trial of OCU300 back in July 2018. This can prove to be a costly lesson to learn. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. 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. *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. quotes delayed at least 15 minutes, all others at least 20 minutes. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. Sign up below to get this incredible offer! Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. 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. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018.