The company initiated its Phase 3 trial of OCU300 back in July 2018. 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. So far, that merger hasnt worked out for Histogenics former shareholders. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. Ocugen, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. What Is the Best EV Stock to Buy Now? Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. 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. Learn More. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. 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. That's not going to happen now. 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. Maybe. quotes delayed at least 15 minutes, all others at least 20 minutes. The Motley Fool has no position in any of the stocks mentioned. That pathway will likely require the company to conduct further clinical testing of the vaccine in the U.S. Are there any other near-term catalysts for the biotech stock? If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Long-term debt of $1.6 million is not a back-breaker either. 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.. As of this writing, Matt did not hold a position in any of theaforementioned securities. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. The Ocugen 52-week high stock price is 4.03, which is 328.7% above the current share price. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). InvestorPlace - Stock Market News, Stock Advice & Trading Tips. To make the world smarter, happier, and richer. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. 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. *ALL INFO ABOUT THE BIKE AND GEAR USED DOWN BELOW**If not listed it's left stock*BIKE: 2018, BMW R NINET SCRAMBLER.EXHAUST: Akrapovic Headers, Uni. The Motley Fool has a disclosure policy. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. 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? Thats why we give you a wide range of Options on stocks, indices, commodities and FX. Plus500. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Another alternative is to sell some or all of your Ocugen stock and invest the money elsewhere. Cost basis and return based on previous market day close. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. It has real products. But realizing value in practice usually is a difficult endeavor. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. 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. Type a symbol or company name. Even at around 40 cents per share, I would consider Ocugen stock overvalued. Our 3 Top Picks. Keith Speights has no position in any of the stocks mentioned. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. The post There Are So Many Stocks to Buy Ocugen Isnt One of Them appeared first on InvestorPlace. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. Investing is always a game of balancing risk and reward. You canfollow Will on Twitterat @HealyWriting. 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. Keith Speights for The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. Maybe OCGN stock will be one of them again. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. The company's product pipeline consists of OCU400, OCU300, OCU100 and OCU200 which are in clinical stage. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. Here are three prudent steps to take. 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. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Some were undoubtedly anticipating a relatively quick EUA win for Covaxin followed by strong U.S. sales for the COVID-19 vaccine. Type a symbol or company name. OCGN does not even appear to have an apparent reason to exist. The Ocugen deal is a way to salvage some limited 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. Do Not Sell My Personal Information (CA Residents Only). Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. Keith Speights has no position in any of the stocks mentioned. But there is no question some big-name stocks performed better than others along the way. This can prove to be a costly lesson to learn. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 2023 InvestorPlace Media, LLC. 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. For investors new to the story, there are some positives when it comes to OCGN stock. 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." Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Investors who have owned stocks in the last year have generally experienced some big gains. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. 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. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. 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. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. Do Not Sell My Personal Information (CA Residents Only). It brings in no revenue. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Copyright 2023 InvestorPlace Media, LLC. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. However, the Strong Buy consensus rating is backed with a $0.9 price target, which implies downside of 68% from current levels. Investors were hopeful that the small drugmaker would be able to win U.S. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. Not an offer or recommendation by Stocktwits. From a near-term standpoint, there are two key risks. The FDA's decision not to issue EUA really wasn't all that surprising, though. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Thats one of the best rallies weve seen in that amount of time (95 trading sessions, 136 days). Its worth emphasizing: Ocugen stock is a play with enormous risk. Even before that point, the most promising candidates generally can find funding. Nasdaq In November, Bharat Biotech began Phase 3 testing of Covaxin in India. 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. 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. However, sometimes the optimism isn't justified. All rights reserved. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. The steep decline came after the company announced that the U.S. Food and Drug Administration (FDA) won't grant Emergency Use Authorization (EUA) for COVID-19 vaccine Covaxin in children ages two to 18. Sign up below to get this incredible offer! 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. 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. That said, for investors who understand the potential downside, there is an intriguing story here. Instead, this appears destined to join the long list of failed biotech startups. The median estimate. It has real management. The statistics support having long-term exposure to this asset class. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. The Motley Fool has a disclosure policy. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. 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.. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Pricing likely would be favorable, given the lack of alternative treatments. Start trading Options with Saxo today. The short answer is: everything. These symbols will be available throughout the site during your session.