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. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. The second is that the balance sheet still needs some help. 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 average Ocugen stock price for the last 52 weeks is 2.10. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. Ocugen sold $25 million of stock in a private placement before the merger. 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 potential synergies of such a union do not seem clear. For now, though, what happens in India stays in India. Invest better with The Motley Fool. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. Guys, theres no revenue here! Copy and paste multiple symbols separated by spaces. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. These symbols will be available throughout the site during your session. It has no treatments to offer the market. 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 FDA told the company in June 2021 that it should instead follow the standard path to full approval of the vaccine in adults. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. It brings in no revenue. Copyright 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. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Investors were hopeful that the small drugmaker would be able to win U.S. But just because a company does not have crippling debt doesnt mean its a buy. At the time, Ocugen was left for dead. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. 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. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. What should investors do now? As of this writing, Matt did not hold a position in any of theaforementioned securities. While anything is possible, I would not anticipate a miracle here. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. 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. The median estimate. As of this writing, Vince Martin has no positions in any securities mentioned. Thats the thing with these low-priced penny stocks. So far, that merger hasnt worked out for Histogenics former shareholders. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. 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 reverse merger that brought Ocugen to the public markets led to huge losses but some investors are buying the dip. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. Written by Copyright 2023 InvestorPlace Media, LLC. That doesnt mean success is guaranteed. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. That's right -- they think these 10 stocks are even better buys. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. I will concede this: The one great thing about the stock market is there is a style for everyone. Type a symbol or company name. 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. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Ocugen had to go an unusual route to go public. If OCU300 is approved, theres a reasonably large market. 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. First, the balance sheet is in at least decent shape. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. Without NeoCart, that burn likely comes down. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. Copyright Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. 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->. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. 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." To make the world smarter, happier, and richer. This requires no immediate effort on your part. But it does mean something. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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 average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. 7 Travel Stocks to Buy Banking On Pent-Up Demand. 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. Type a symbol or company name. However, I wont be around to find out. The stock had gained some traction after they announced the. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. Its certainly possible. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) These options will be cheaper than owning the stock itself. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. The company stated that it will pursue a path to file for full FDA approval of Covaxin. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. 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. *Stock Advisor returns as of June 7, 2021. The company initiated its Phase 3 trial of OCU300 back in July 2018. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. 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. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. Cost basis and return based on previous market day close. Type a symbol or company name. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. Unfortunately for longs, OCGN is much closer to the worst of conditions. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. Type a symbol or company name. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Please check your download folder. Written by Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. And its at least possible that OCGN could wind up being a winner. ET on Friday. 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 has a disclosure policy. 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. 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. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. All rights reserved. The latest closing stock price for Ocugen as of March 03, 2023 is. Investors should worry about companies with no revenue even under the best of circumstances. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Accordingly, the analyst rates OCGN a Neutral (i.e. 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. 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. The statistics support having long-term exposure to this asset class. Copyright 2023 InvestorPlace Media, LLC. However, sometimes the optimism isn't justified. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. 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. These symbols will be available throughout the site during your session. Ocugen. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. 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." 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. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. 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. For investors new to the story, there are some positives when it comes to OCGN stock. 1125 N. Charles St, Baltimore, MD 21201. A $30 million market capitalization doesnt mean Ocugen has no chance. Click here to see what Matt has up his sleeve now. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. 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. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. 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. Investors were hopeful that the small drugmaker would be able to win U.S. Pricing likely would be favorable, given the lack of alternative treatments. You canfollow Will on Twitterat @HealyWriting. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. 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.