Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. Emergency Use . How long might it take for Ocugen to win full FDA approval for Covaxin? A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. It has real management. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. For now, though, what happens in India stays in India. Still, Ocugens balance sheet isnt as dire as its share price might suggest. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. 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. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. Do Not Sell My Personal Information (CA Residents Only). For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. However, sometimes the optimism isn't justified. That's right -- they think these 10 stocks are even better buys. Thats the thing with these low-priced penny stocks. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. 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.. The content is intended to be used for informational purposes only. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. 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. If they invent a miracle treatment for a condition, the money will find its way to the stock. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. But it does mean something. Create your Watchlist to save your favorite quotes on Nasdaq.com. Theres even room for more lines. As of this writing, Matt did not hold a position in any of theaforementioned securities. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). Nasdaq 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. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. The Motley Fool has a disclosure policy. 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. The stock had gained some traction after they announced the. Hold) without suggesting a price target. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Investors were hopeful that the small drugmaker would be able to win U.S. There's still a chance that the vaccine could receive a green light in Canada. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. Histogenics itself highlights the risks involved in small-cap biotech. OCGN does not even appear to have an apparent reason to exist. So far, that merger hasnt worked out for Histogenics former shareholders. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Instead, this appears destined to join the long list of failed biotech startups. If they have solid financials, but their trials continually fail, they will likely not succeed. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. But there is no question some big-name stocks performed better than others along the way. So, what goes wrong? CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. 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. 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. Conditions have only become worse since that time. The biotech stock promptly crashed by more than 30%. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. 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. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Copyright Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. Invest better with The Motley Fool. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. 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. Investors were hopeful that the small drugmaker would be able to win U.S. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. From the outside looking inward, it looks like a marriage of two people who got together simply because nobody else would take them. It has no treatments to offer the market. 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. Copyright 2023 InvestorPlace Media, LLC. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. 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. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Can you feel the ground moving beneath your feet? Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. 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. Not an offer or recommendation by Stocktwits. The odds of Ocugen stock winding up at zero are material. The Motley Fool has a disclosure policy. 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." According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. But the allure of the space is that when a company wins, its shareholders win big. What should investors do now? Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. But any success they find will be without me as a shareholder. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Investors need to understand the risk profile here. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). It means that institutional investors focused on the sector largely have passed on the pipeline. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. 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. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. If you missed that action, you missed all the gains. Part of the proceeds will be used to support its partnership with Bharat. Ocugen had to go an unusual route to go public. The chances of anything more are small but the rewards could be huge. 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. It's hard to say for sure. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Plus500. Copy and paste multiple symbols separated by spaces. If OCU300 is approved, theres a reasonably large market. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. 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 FDA's decision not to issue EUA really wasn't all that surprising, though. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. 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. At the beginning of 2020, Ocugen shares were trading at just 47 cents. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. Long-term debt of $1.6 million is not a back-breaker either. However, I wont be around to find out. The statistics support having long-term exposure to this asset class. Without NeoCart, that burn likely comes down. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. Accordingly, the analyst rates OCGN a Neutral (i.e. Like other life sciences companies involved in Covid-19 vaccine. All rights reserved. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. But realizing value in practice usually is a difficult endeavor. First, the balance sheet is in at least decent shape. If Ocugen goes up, you can still profit. That's right -- they think these 10 stocks are even better buys. Do Not Sell My Personal Information (CA Residents Only). The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. Sign up below to get this incredible offer! 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. These symbols will be available throughout the site during your session. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. 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. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. 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. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. 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? 1125 N. Charles St, Baltimore, MD 21201. Keith Speights has no position in any of the stocks mentioned. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. *Average returns of all recommendations since inception. However, even from this limited vantage point, OCGN appears destined to fail. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Written by 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. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. From a near-term standpoint, there are two key risks. 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. 2023 InvestorPlace Media, LLC. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. 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. Nasdaq 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. 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. The stock had gained some traction after they announced the Ocugen merger in April. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months.

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