7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. 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. The Ocugen deal is a way to salvage some limited value. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. Its all about choice. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. 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. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. Why Ocugen Stock Is Crushing It Today | Nasdaq 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. 1125 N. Charles St, Baltimore, MD 21201. Custom BMW. Our 3 Top Picks. Other than an emphasis on cell therapies, the companies had almost nothing in common. For priority reviews, the timeline for an approval decision is reduced to six months. The Motley Fool->. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. (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. Ocugen completes $100M stock sale as it works with Bharat Biotech on So far, that merger hasnt worked out for Histogenics former shareholders. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Type a symbol or company name. 1125 N. Charles St, Baltimore, MD 21201. 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. Keith Speights owns shares of Pfizer. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Honestly, OCGN stock is unlikely to survive. Start trading Options with Saxo today. If you already owned Ocugen stock before the company's disappointing news, you have several alternatives. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. Part of the proceeds will be used to support its partnership with Bharat. 7 Travel Stocks to Buy Banking On Pent-Up Demand. There's still a chance that the vaccine could receive a green light in Canada. 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.. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. Please check your download folder. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. Copyright But realizing value in practice usually is a difficult endeavor. Theres an opportunity here. Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ocugen-stock-faint-heart/. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. Without NeoCart, that burn likely comes down. Typically, I care little about financials with biotechs. 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 Bharat Biotech to co-develop a COVID-19 vaccine for the U.S. market. If they have solid financials, but their trials continually fail, they will likely not succeed. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. 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. Ocugen Stock Is Not for the Faint of Heart - InvestorPlace Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. It has real products. But it does mean something. 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. But any success they find will be without me as a shareholder. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. 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. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. The short answer is: everything. The median estimate. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Is Ocugen Stock Still Worth Buying After Its 800%-Plus Rally? Analyst 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. The stock had gained some traction after they announced the. So, what goes wrong? *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. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. Instead, this appears destined to join the long list of failed biotech startups. 2023 InvestorPlace Media, LLC. As of this writing, Vince Martin has no positions in any securities mentioned. 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. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. 1125 N. Charles St, Baltimore, MD 21201. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. It's hard to say for sure. Bharat Biotech has a history of successful vaccine commercialization in South Asia. However, sometimes the optimism isn't justified. For now, though, what happens in India stays in India. If you missed that action, you missed all the gains. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. It brings in no revenue. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The $25 million private placement executed before the merger brought in much-needed cash. Hold) without suggesting a price target. The average Ocugen stock price for the last 52 weeks is 2.10. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. An unprofitable biotech that focused on commercializing therapies to cure blindness prior to the present pandemic, Ocugen ( OCGN) stock took on a new life on December 22, when it announced. Ocugen: Peripheral Scandals Taint This Expired COVID-19 'Me-Too' Longshot 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. You never know when they will suddenly go on a squeeze. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. 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? 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. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. 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. 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. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. How long might it take for Ocugen to win full FDA approval for Covaxin? Investors should worry about companies with no revenue even under the best of circumstances. Maybe OCGN stock will be one of them again. The FDA's decision not to issue EUA really wasn't all that surprising, though. Click here to see what Matt has up his sleeve now. 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. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. 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. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. 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. This requires no immediate effort on your part. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development.

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