In November, Bharat Biotech began Phase 3 testing of Covaxin in India. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Ocugen announced in late Decemberit had signed a letter of intent to co-develop COVID-19 vaccine candidate Covaxin along with Indian pharmaceutical company Bharat Biotech. Other than an emphasis on cell therapies, the companies had almost nothing in common. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. The Motley Fool->. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. But there is no question some big-name stocks performed better than others along the way. Custom BMW. 1125 N. Charles St, Baltimore, MD 21201. Literally, zero. The Ocugen deal is a way to salvage some limited value. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. The company initiated its Phase 3 trial of OCU300 back in July 2018. Ill be sticking to the stocks that are actually working. Ocugen isnt a promotional, fly-by-night penny stock. But just because a company does not have crippling debt doesnt mean its a buy. 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. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. The stock had gained some traction after they announced the Ocugen merger in April. Keith Speights for However, even from this limited vantage point, OCGN appears destined to fail. It means that institutional investors focused on the sector largely have passed on the pipeline. 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. Our 3 Top Picks. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. 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. How long might it take for Ocugen to win full FDA approval for Covaxin? Create your Watchlist to save your favorite quotes on Nasdaq.com. Making the world smarter, happier, and richer. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Accordingly, the analyst rates OCGN a Neutral (i.e. Maybe. What should investors do now? However, when that occurred, Ocugen stock lost most of its value. Do not expect a recovery in Ocugen stock. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Like other life sciences companies involved in Covid-19 vaccine. In that list, you can even include penny-stock trader. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. Even at around 40 cents per share, I would consider Ocugen stock overvalued. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. All rights reserved. All rights reserved. Ocugen. 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. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. The $25 million private placement executed before the merger brought in much-needed cash. The Motley Fool recommends Moderna Inc. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Investors were hopeful that the small drugmaker would be able to win U.S. 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 huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. Copyright 2023 InvestorPlace Media, LLC. The statistics support having long-term exposure to this asset class. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. The potential synergies of such a union do not seem clear. Written by The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. Typically, I care little about financials with biotechs. This can prove to be a costly lesson to learn. Emergency Use . In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. 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. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. *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. 2023 InvestorPlace Media, LLC. 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. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). The Motley Fool has no position in any of the stocks mentioned. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. Do Not Sell My Personal Information (CA Residents Only). *Stock Advisor returns as of June 7, 2021. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. 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 other words, it means that even by biotech standards OCGN stock is an enormously risky play. That doesnt mean success is guaranteed. It has real products. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. For now, though, what happens in India stays in India. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. But it does mean something. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. 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! Part of the proceeds will be used to support its partnership with Bharat. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Start trading Options with Saxo today. 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. Keith Speights has no position in any of the stocks mentioned. The Motley Fool->. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. Its certainly possible. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. Please check your download folder. Bharat Biotech has a history of successful vaccine commercialization in South Asia. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Histogenics itself highlights the risks involved in small-cap biotech. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. The latest closing stock price for Ocugen as of March 03, 2023 is. Written by Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Guys, theres no revenue here! 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. This decision. That's right -- they think these 10 stocks are even better buys. 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. Not an offer or recommendation by Stocktwits. Pricing likely would be favorable, given the lack of alternative treatments. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. While anything is possible, I would not anticipate a miracle here. That said, for investors who understand the potential downside, there is an intriguing story here. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. Companies will inevitably be optimistic about their prospects for success (at least publicly). Most biotech companies have intriguing stories on paper; Ocugen is no different. (See OCGN stock analysis on TipRanks). Ocugen sold $25 million of stock in a private placement before the merger. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. Its all about choice. Still, Ocugens balance sheet isnt as dire as its share price might suggest. Plus500. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. 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. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. 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. It has no treatments to offer the market. Keith Speights for Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Cost basis and return based on previous market day close. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Investors should worry about companies with no revenue even under the best of circumstances. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. You canfollow Will on Twitterat @HealyWriting. 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. These options will be cheaper than owning the stock itself. Nasdaq 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. As of this writing, Matt did not hold a position in any of theaforementioned securities. The Motley Fool has a disclosure policy. 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." Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. The FDA's decision not to issue EUA really wasn't all that surprising, though. Thats the thing with these low-priced penny stocks. The average Ocugen stock price for the last 52 weeks is 2.10. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. If Ocugen goes up, you can still profit. 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. Click here to see what Matt has up his sleeve now. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. It means that raising capital will be more difficult going forward. The Ocugen deal is a way to salvage some limited value. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. However, I wont be around to find out. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Sign up below to get this incredible offer! But realizing value in practice usually is a difficult endeavor. 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. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. 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 All rights reserved. What Is the Best EV Stock to Buy Now? Lorem ipsum dolor sit amet, consectetur adipiscing elit. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Source: Chart courtesy of StockCharts.com. The Motley Fool has a disclosure policy. Investors were hopeful that the small drugmaker would be able to win U.S. And its at least possible that OCGN could wind up being a winner. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. At the time, Ocugen was left for dead. Our 3 Top Picks. 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 the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. These symbols will be available throughout the site during your session. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. 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." The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). Type a symbol or company name. Here are three prudent steps to take. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics.
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