Instead, this appears destined to join the long list of failed biotech startups. Ocugen Inc Stock - OCGN Share Price Today, News and Discussion - Stocktwits Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. (See OCGN stock analysis on TipRanks). 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. But if they do, Ocugen stock at the least looks like an intriguing bet. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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 You Invested $1,000 In Ocugen Stock One Year Ago, Here's - Insider Please check your download folder. This requires no immediate effort on your part. If they have solid financials, but their trials continually fail, they will likely not succeed. Part of the proceeds will be used to support its partnership with Bharat. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. 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 average Ocugen stock price for the last 52 weeks is 2.10. Start trading Options with Saxo today. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. Do Not Sell My Personal Information (CA Residents Only). The company initiated its Phase 3 trial of OCU300 back in July 2018. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. Ocugen had to go an unusual route to go public. The second is that the balance sheet still needs some help. All rights reserved. The stock had gained some traction after they announced the Ocugen merger in April. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. Theres an opportunity here. Copyright 2023 InvestorPlace Media, LLC. Do Not Sell My Personal Information (CA Residents Only). 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. Ocugen to Present at the 2018 BIO International Convention | Ocugen, Inc. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Nasdaq Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. There's still a chance that the vaccine could receive a green light in Canada. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. 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." This decision. In this case, shares rallied about four-fold in just a few days. ET on Friday. Thats the thing with these low-priced penny stocks. *Average returns of all recommendations since inception. It brings in no revenue. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. Ocugen sold $25 million of stock in a private placement before the merger. 2023 InvestorPlace Media, LLC. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. It has real management. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. 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. 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. 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. Keith Speights has no position in any of the stocks mentioned. See disclosure here. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. Making the world smarter, happier, and richer. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. Custom BMW #youtube #moto #motorcycle #bike #youtubeshorts #shorts *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. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. Keith Speights has no position in any of the stocks mentioned. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. quotes delayed at least 15 minutes, all others at least 20 minutes. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. OCGN does not even appear to have an apparent reason to exist. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. That's right -- they think these 10 stocks are even better buys. How long might it take for Ocugen to win full FDA approval for Covaxin? 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. 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. Other than an emphasis on cell therapies, the companies had almost nothing in common. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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 company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. OCGN - Ocugen Inc Forecast - CNNMoney.com - CNN Business CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. 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. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. 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. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. Investors need to understand the risk profile here. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. The FDA's decision not to issue EUA really wasn't all that surprising, though. Written by Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. These symbols will be available throughout the site during your session. 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. 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. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. OCGN Stock Forecast 2022 and 2025: Is Ocugen Set to Explode? Maybe. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. 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. You never know when they will suddenly go on a squeeze. Investors who have owned stocks in the last year have generally experienced some big gains. You canfollow Will on Twitterat @HealyWriting. Custom BMW. 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. Sign up below to get this incredible offer! But it does mean something. Investors should worry about companies with no revenue even under the best of circumstances. Unfortunately for longs, OCGN is much closer to the worst of conditions. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. The Motley Fool has no position in any of the stocks mentioned. As of this writing, Vince Martin has no positions in any securities mentioned. This can prove to be a costly lesson to learn. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. 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 . Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. The odds of Ocugen stock winding up at zero are material. Ocugen completes $100M stock sale as it works with Bharat Biotech on Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. However, when that occurred, Ocugen stock lost most of its value. 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. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Create your Watchlist to save your favorite quotes on Nasdaq.com. Is Ocugen Stock Still Worth Buying After Its 800%-Plus Rally? Analyst There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization (EUA) in India for COVID-19 vaccine Covaxin. Guys, theres no revenue here! Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. The Motley Fool has a disclosure policy. But realizing value in practice usually is a difficult endeavor. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. Why Ocugen Stock Is Crushing It Today | Nasdaq The Motley Fool->. The Motley Fool has no position in any of the stocks mentioned. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. To be sure, current cash isnt enough. Like other life sciences companies involved in Covid-19 vaccine. The reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. Ocugen stock jumps following positive Covid vaccine study results 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. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Long-term debt of $1.6 million is not a back-breaker either. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. 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. That doesnt mean success is guaranteed. Events - Ocugen You could sell some or all of your Ocugen shares and buy long-term call options on the stock. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. A $30 million market capitalization doesnt mean Ocugen has no chance. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Ocugen Inc. Announces Closing of $100 Million Registered One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. The Motley Fool->. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. 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? While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. 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. 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. Investing is always a game of balancing risk and reward. 1125 N. Charles St, Baltimore, MD 21201. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Don't Get Greedy With Ocugen Stock, Says Analyst The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Ocugen isnt a promotional, fly-by-night penny stock. 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. 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. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. It is very important to do your own analysis before making any investment. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. Ocugen Stock Crashes: What Should Investors Do Now? Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. 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. 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. 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. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. That product drives the current bull case for Ocugen stock. Without NeoCart, that burn likely comes down. And its at least possible that OCGN could wind up being a winner. Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). market." Those lessons will vary between different investors, but I'll point out a major one to keep in mind. Conditions have only become worse since that time. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). 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. 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. 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. 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 Motley Fool has a disclosure policy. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. If they invent a miracle treatment for a condition, the money will find its way to the stock. The chances of anything more are small but the rewards could be huge. 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. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. The Motley Fool has a disclosure policy. 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. 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. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. As of this writing, Matt did not hold a position in any of theaforementioned securities. Most biotech companies have intriguing stories on paper; Ocugen is no different. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. quotes delayed at least 15 minutes, all others at least 20 minutes. Can you feel the ground moving beneath your feet? 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