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. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. 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. Even before that point, the most promising candidates generally can find funding. These symbols will be available throughout the site during your session. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. Type a symbol or company name. If OCU300 is approved, theres a reasonably large market. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Investors were hopeful that the small drugmaker would be able to win U.S. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. CEO Shankar Musunuri stated that he was "pleased to say" that Ocugen was in discussions with the FDA about the data it had submitted for the pediatric EUA. Custom BMW. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. That doesnt mean success is guaranteed. 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. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. At the time, Ocugen was left for dead. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. 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. OCGN does not even appear to have an apparent reason to exist. Bharat Biotech has a history of successful vaccine commercialization in South Asia. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. Copy and paste multiple symbols separated by spaces. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. 2023 InvestorPlace Media, LLC. 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. All rights reserved. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Nasdaq But there is no question some big-name stocks performed better than others along the way. These symbols will be available throughout the site during your session. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. For investors new to the story, there are some positives when it comes to OCGN stock. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. Not an offer or recommendation by Stocktwits. Its certainly possible. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. When the market crashed during the U.S. pandemic outbreak in March, shares of vaccine makers understandably soared as work began on developing vaccines to fight COVID-19. What should investors do now? Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. The company initiated its Phase 3 trial of OCU300 back in July 2018. The equity has experienced a continual decline for years. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). But realizing value in practice usually is a difficult endeavor. Investors should worry about companies with no revenue even under the best of circumstances. Cost basis and return based on previous market day close. 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. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. While anything is possible, I would not anticipate a miracle here. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. 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 S&P 500 has rallied 52.9% from the March low to its highs on August 6. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. 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. However, sometimes the optimism isn't justified. 1125 N. Charles St, Baltimore, MD 21201. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. There's still a chance that the vaccine could receive a green light in Canada. 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. Thats the thing with these low-priced penny stocks. It means that institutional investors focused on the sector largely have passed on the pipeline. 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. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. 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. 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. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. As of this writing, Vince Martin has no positions in any securities mentioned. Under the terms of the agreement, Ocugen is entitled to 45% of the profits from the commercialization of Covaxin in the U.S. and Canada. *Stock Advisor returns as of June 7, 2021. So far, that merger hasnt worked out for Histogenics former shareholders. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. Keith Speights for 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. Here are three prudent steps to take. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. Type a symbol or company name. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. 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. Making the world smarter, happier, and richer. Part of the proceeds will be used to support its partnership with Bharat. 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. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Written by Keith Speights for However, when that occurred, Ocugen stock lost most of its value. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. 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." It has no treatments to offer the market. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. The second is that the balance sheet still needs some help. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Plus500. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. 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. The Motley Fool->. Type a symbol or company name. Ocugen isnt a promotional, fly-by-night penny stock. 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. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. ET on Friday. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). 2023 InvestorPlace Media, LLC. Long-term debt of $1.6 million is not a back-breaker either. 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. The Motley Fool has a disclosure policy. The content is intended to be used for informational purposes only. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. What Is the Best EV Stock to Buy Now? How long might it take for Ocugen to win full FDA approval for Covaxin? However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. 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. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. Maybe OCGN stock will be one of them again. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. Keith Speights owns shares of Pfizer. 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. As of this writing, Matt did not hold a position in any of theaforementioned securities. That product drives the current bull case for Ocugen stock. Invest better with The Motley Fool. It means that raising capital will be more difficult going forward. To make the world smarter, happier, and richer. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Copyright 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. Copy and paste multiple symbols separated by spaces. 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. Learn More. You canfollow Will on Twitterat @HealyWriting. Written by Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. 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 worst news was that another late-stage clinical study will likely be required to support the regulatory filing. The Motley Fool has a disclosure policy. Keith Speights has no position in any of the stocks mentioned. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. Copyright For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Keith Speights has no position in any of the stocks mentioned. 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 Motley Fool recommends Moderna Inc. The average Ocugen stock price for the last 52 weeks is 2.10. Sign up below to get this incredible offer! Click here to see what Matt has up his sleeve now.