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Part of the proceeds will be used to support its partnership with Bharat. 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. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. Sign up below to get this incredible offer! But just because a company does not have crippling debt doesnt mean its a buy. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. The average Ocugen stock price for the last 52 weeks is 2.10. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. 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. The Motley Fool has no position in any of the stocks mentioned. However, sometimes the optimism isn't justified. Investors who have owned stocks in the last year have generally experienced some big gains. 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. Our 3 Top Picks. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. David and Tom just revealed what they believe are the ten best stocks for investors to buy right now and Ocugen, Inc. wasn't one of them! However, when that occurred, Ocugen stock lost most of its value. 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. The newly renamed Ocugen stock kept declining through year-end, but has managed to stage a bit of a rally in 2020, gaining 15% year-to-date. The FDA's decision not to issue EUA really wasn't all that surprising, though. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. Guys, theres no revenue here! Investors were hopeful that the small drugmaker would be able to win U.S. *Stock Advisor returns as of June 7, 2021. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. 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. That's not going to happen now. Type a symbol or company name. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. But it does mean something. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. Making the world smarter, happier, and richer. As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. 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. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. 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. Still, Ocugens balance sheet isnt as dire as its share price might suggest. ET on Friday. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. Keith Speights owns shares of Pfizer. Companies will inevitably be optimistic about their prospects for success (at least publicly). 1125 N. Charles St, Baltimore, MD 21201. The Motley Fool has a disclosure policy. Please check your download folder. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. If they have solid financials, but their trials continually fail, they will likely not succeed. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Bharat's offering COVAXIN, a whole-viron inactivated COVID-19 vaccine candidate, has already shown promise in Phase 1 and 2 clinical trials in India and the enrollment of 26,000 subjects for the Phase 3 study is currently underway. 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. Nasdaq Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. That's right -- they think these 10 stocks are even better buys. 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. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. 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. Copyright Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. The Motley Fool has no position in any of the stocks mentioned. 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. The biotech stock promptly crashed by more than 30%. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. Copy and paste multiple symbols separated by spaces. Its certainly possible. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. I will concede this: The one great thing about the stock market is there is a style for everyone. Most biotech companies have intriguing stories on paper; Ocugen is no different. For investors new to the story, there are some positives when it comes to OCGN stock. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. Investing is always a game of balancing risk and reward. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). Even before that point, the most promising candidates generally can find funding. But if they do, Ocugen stock at the least looks like an intriguing bet. The short answer is: everything. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. Accordingly, the analyst rates OCGN a Neutral (i.e. 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. What Is the Best EV Stock to Buy Now? Long-term debt of $1.6 million is not a back-breaker either. *Stock Advisor returns as of November 20, 2020. The second is that the balance sheet still needs some help. quotes delayed at least 15 minutes, all others at least 20 minutes. The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. Emergency Use . Lorem ipsum dolor sit amet, consectetur adipiscing elit. Honestly, OCGN stock is unlikely to survive. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. The Motley Fool has a disclosure policy. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. 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. 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. Copyright 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. 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. It has real products. 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. 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. 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. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. Maybe. The median estimate. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Here are three prudent steps to take. As of this writing, Vince Martin has no positions in any securities mentioned.