5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. 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. 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. 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. All rights reserved. These symbols will be available throughout the site during your session. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. That's not going to happen now. The FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. 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. In this case, shares rallied about four-fold in just a few days. Please check your download folder. 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. 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. That doesnt mean success is guaranteed. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Ocugen had to go an unusual route to go public. 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. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Type a symbol or company name. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. All rights reserved. The Motley Fool recommends Moderna Inc. Keith Speights owns shares of Pfizer. 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. At the time, Ocugen was left for dead. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. However, sometimes the optimism isn't justified. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. The stock had gained some traction after they announced the Ocugen merger in April. 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.. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. There's still a chance that the vaccine could receive a green light in Canada. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. 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. 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 The odds of Ocugen stock winding up at zero are material. Maybe. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. 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. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. 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. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The Motley Fool->. 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. 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. But just because a company does not have crippling debt doesnt mean its a buy. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. Ocugen Inc. is a clinical stage biopharmaceutical company. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. 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. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). Its worth emphasizing: Ocugen stock is a play with enormous risk. The Motley Fool has a disclosure policy. However, I wont be around to find out. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. However, when that occurred, Ocugen stock lost most of its value. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. Theres even room for more lines. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. Theres even room for more lines. The Motley Fool has a disclosure policy. The $25 million private placement executed before the merger brought in much-needed cash. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. Copyright 2023 InvestorPlace Media, LLC. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. ET on Friday. But any success they find will be without me as a shareholder. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. 1125 N. Charles St, Baltimore, MD 21201. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. So, what goes wrong? Keith Speights for If you missed that action, you missed all the gains. In that list, you can even include penny-stock trader. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Instead of buying a piece of the S&P 500 or Nasdaq or even better, a common sense mega-holding like Apple (NASDAQ:AAPL) or Amazon investors in OCGN stock took on a high-risk investment and for months saw negative returns. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. Ramakanth believes the broad immunity targeting different components of the virus could potentially provide better protection against emerging mutant viruses, such as the one currently circulating in the UK. With this in mind, in the Phase 1 study, COVAXIN has shown robust antibody responses against spike (S1) protein, receptor-binding domain (RBD) and the nucleocapsid (N) protein of SARS-CoV-2. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. That's right -- they think these 10 stocks are even better buys. It has real management. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. 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. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. These options will be cheaper than owning the stock itself. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. What Is the Best EV Stock to Buy Now? If were playing that game then Im buying LEAP call options on Apple and Amazon in March. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Investors who have owned stocks in the last year have generally experienced some big gains. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. Sign up below to get this incredible offer! 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. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. 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 priority reviews, the timeline for an approval decision is reduced to six months. 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? 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. 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 generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. Cost basis and return based on previous market day close. Unfortunately for longs, OCGN is much closer to the worst of conditions. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. 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. But theres a big difference in having an edge flipping sub-$5 stocks vs. combing over this group as an investor looking for sound fundamentals and a mistakenly low stock price. It means that institutional investors focused on the sector largely have passed on the pipeline. market." Even at around 40 cents per share, I would consider Ocugen stock overvalued. Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The company initiated its Phase 3 trial of OCU300 back in July 2018. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. 7 Travel Stocks to Buy Banking On Pent-Up Demand. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). Those lessons will vary between different investors, but I'll point out a major one to keep in mind. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. So far, that merger hasnt worked out for Histogenics former shareholders.