Most biotech companies have intriguing stories on paper; Ocugen is no different. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. However, even from this limited vantage point, OCGN appears destined to fail. And while Ocugen will need more capital at some point, the company at least has time to push OCU300 forward and get its story out to investors. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. Pricing likely would be favorable, given the lack of alternative treatments. 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. Copyright 2023 InvestorPlace Media, LLC. 2023 InvestorPlace Media, LLC. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. 1125 N. Charles St, Baltimore, MD 21201. Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. The stock had gained some traction after they announced the. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. These symbols will be available throughout the site during your session. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. If OCU300 is approved, theres a reasonably large market. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. To make the world smarter, happier, and richer. (To watch Ramakanths track record, click here), In contrast, all 3 other analysts who have recently posted an Ocugen review rate the stock a Buy. The latest closing stock price for Ocugen as of March 03, 2023 is. Plus500. As of this writing, Vince Martin has no positions in any securities mentioned. Copy and paste multiple symbols separated by spaces. The company stated that it will pursue a path to file for full FDA approval of Covaxin. 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. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. *Average returns of all recommendations since inception. The Motley Fool->. 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. 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. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Histogenics itself highlights the risks involved in small-cap biotech. 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. Investors should worry about companies with no revenue even under the best of circumstances. However, sometimes the optimism isn't justified. Keith Speights has no position in any of the stocks mentioned. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Sign up below to get this incredible offer! Written by 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. 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." We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Some of the names will rally big, putting together epic squeezes that can double or triple the stock prices in just a few days. Its certainly possible. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. 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. The odds of Ocugen stock winding up at zero are material. 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. That doesnt mean success is guaranteed. 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. *Stock Advisor returns as of June 7, 2021. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Type a symbol or company name. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. Source: Chart courtesy of StockCharts.com. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. 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. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. 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. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. Type a symbol or company name. Click here to see what Matt has up his sleeve now. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. All rights reserved. If you missed that action, you missed all the gains. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. Ocugen sold $25 million of stock in a private placement before the merger. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. 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. It means that institutional investors focused on the sector largely have passed on the pipeline. 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. Investors were hopeful that the small drugmaker would be able to win U.S. Theres even room for more lines. I will concede this: The one great thing about the stock market is there is a style for everyone. Literally, zero. 1125 N. Charles St, Baltimore, MD 21201. The chances of anything more are small but the rewards could be huge. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. 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. Copy and paste multiple symbols separated by spaces. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. 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. Hold) without suggesting a price target. 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. 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. The biotech stock promptly crashed by more than 30%. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. Guys, theres no revenue here! The content is intended to be used for informational purposes only. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. 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. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. Even before that point, the most promising candidates generally can find funding. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. So, what goes wrong? Disclaimer: The opinions expressed in this article are solely those of the featured analysts. 2023 InvestorPlace Media, LLC. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. 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.
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