Copy and paste multiple symbols separated by spaces. 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? 1125 N. Charles St, Baltimore, MD 21201. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. CFO Sanjay Subramanian said that there was "the potential for near-term revenue," depending on the EUA. The biotech stock promptly crashed by more than 30%. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. However, sometimes the optimism isn't justified. This decision. For investors new to the story, there are some positives when it comes to OCGN stock. That's right -- they think these 10 stocks are even better buys. Biotechnology stocks like Ocugen (NASDAQ:OCGN) are among the markets riskiest plays. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. All rights reserved. The potential synergies of such a union do not seem clear. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. 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. It brings in no revenue. Do Not Sell My Personal Information (CA Residents Only). Plus500. Its all about choice. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. 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. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell Amryt Pharma releases Q-2 how to setup copy trading labrador gold stock that show strong revenue growth as The first split for NKE took place on October 08, Below, we'll pit these two dominant consumer-discretionary giants against each other, with an eye toward long-term . Copyright Ill be sticking to the stocks that are actually working. That said, for investors who understand the potential downside, there is an intriguing story here. Bharat Biotech has a history of successful vaccine commercialization in South Asia. What should investors do now? Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. 7 Penny Stocks Poised for Explosive Growth in 2023, With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell. The Ocugen deal is a way to salvage some limited value. Still, Ocugens balance sheet isnt as dire as its share price might suggest. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. Thats why we give you a wide range of Options on stocks, indices, commodities and FX. Type a symbol or company name. Ocugen. quotes delayed at least 15 minutes, all others at least 20 minutes. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. So, what goes wrong? 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! But it does mean something. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. 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.. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. Nor should one look forward to OCGN stock to becoming the next GW Pharmaceuticals (NASDAQ:GWPH) or Cara Therapeutics (NASDAQ:CARA). Ocugens Big Run: One company that has been a home-run investment in the last year has been biotech stock Ocugen Inc (NASDAQ:OCGN). 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. But the sale of NeoCart appears to not yet have closed after its deadline was extended to allow Medavate to secure financing. The huge gain came after the company's partner, Bharat Biotech, received emergency use authorization. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. Written by 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. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. It has real products. The $25 million private placement executed before the merger brought in much-needed cash. The FDA typically takes 60 days to accept a regulatory filing then 10 months to make an approval decision. Keith Speights has no position in any of the stocks mentioned. The statistics support having long-term exposure to this asset class. 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. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. 1125 N. Charles St, Baltimore, MD 21201. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. 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. Other than an emphasis on cell therapies, the companies had almost nothing in common. The Motley Fool has a disclosure policy. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. Copy and paste multiple symbols separated by spaces. Ocugen Inc First Quarter 2022 Financial Results and Recent Business Highlights 04/21/2022 Noble Capital Markets' Eighteenth Annual Investor Conference 03/14/2022 34th Annual ROTH Conference 02/25/2022 Ocugen, Inc. Q4 and Full Year 2021 Financial Results and Recent Business Highlights 01/10/2022 H.C. Wainwright Bioconnect Conference 12/22/2021 Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. Looking ahead, analysts are skeptical Covaxin will provide the upside Ocugen bulls are expecting. If you missed that action, you missed all the gains. That's not going to happen now. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. The company initiated its Phase 3 trial of OCU300 back in July 2018. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. 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. 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. Investors were hopeful that the small drugmaker would be able to win U.S. The firm's modifier gene therapy platform is engaged in addressing retinal diseases, including retinitis pigmentosa, leber congenital amaurosis, and dry age-related macular degeneration. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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. 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. But if they do, Ocugen stock at the least looks like an intriguing bet. Create your Watchlist to save your favorite quotes on Nasdaq.com. I will concede this: The one great thing about the stock market is there is a style for everyone. All rights reserved. One thing seems certain, however:Ocugens fate as an investment is closely tied to the ultimate outcome of Covaxin. Investors were hopeful that the small drugmaker would be able to win U.S. 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 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. The content is intended to be used for informational purposes only. It means that institutional investors focused on the sector largely have passed on the pipeline. 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. *Stock Advisor returns as of November 20, 2020. There's a pretty good case to be made that other stocks offer even better prospects for returns with lower risk than Ocugen does. Unfortunately for longs, OCGN is much closer to the worst of conditions. That doesnt mean success is guaranteed. The equity has experienced a continual decline for years. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. 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." 1125 N. Charles St, Baltimore, MD 21201. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. 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. There's still a chance that the vaccine could receive a green light in Canada. A partnership with a respected Asian biotechnology company offers some validation to the pipeline, and a key product is progressing through Phase III trials. 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. The company has no revenue, runs an annual deficit, and does not generate positive free cash flow. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. Most biotech companies have intriguing stories on paper; Ocugen is no different. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. Ocugen isnt a promotional, fly-by-night penny stock. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. Nasdaq For now, though, what happens in India stays in India. 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. To make the world smarter, happier, and richer. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Cost basis and return based on previous market day close. (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 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. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Please check your download folder. From a near-term standpoint, there are two key risks. Guys, theres no revenue here! But realizing value in practice usually is a difficult endeavor. The Motley Fool has no position in any of the stocks mentioned. 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. If Ocugen goes up, you can still profit. It has no treatments to offer the market. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. Type a symbol or company name. The CanSinoBio partnership does help, but Ocugen still has a long way to go with OCU300. It is very important to do your own analysis before making any investment. Sign up below to get this incredible offer! 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. Since its merger, Ocugen stock has continued the decline that occurred under the company that it took over, Histogenics. 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. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. But there is no question some big-name stocks performed better than others along the way. As of this writing, Vince Martin has no positions in any securities mentioned. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. 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. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. Thats the thing with these low-priced penny stocks. Don't overlook another approach, especially if you're still sitting on a nice gain even after last week's major sell-off. Ocugen ( NASDAQ: OCGN) has been one of the more polarizing story stocks of 2021. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. The company was founded by Shankar Musunuri and Uday B. Kompella in 2013 and is headquartered in Malvern, PA. If they invent a miracle treatment for a condition, the money will find its way to the stock. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. Maybe. 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. 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. 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. 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. Its worth emphasizing: Ocugen stock is a play with enormous risk. (See OCGN stock analysis on TipRanks). Type a symbol or company name. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. Companies will inevitably be optimistic about their prospects for success (at least publicly). The Motley Fool has no position in any of the stocks mentioned. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. 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. 2023 InvestorPlace Media, LLC. Investors need to understand the risk profile here. 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. Learn More. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. However, even from this limited vantage point, OCGN appears destined to fail. The risk-reward proposition for Ocugen is obviously much different now than it was when individuals were buying the stock over the last several months. The combined company has an agreement to sell the rights to NeoCart to privately held Medavate, leaving it reliant on Ocugens pipeline. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. 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. Investors should definitely reevaluate Ocugen's prospects in light of the company's bad news announced last week. 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. Long-term debt of $1.6 million is not a back-breaker either. Admittedly one could argue that it could have been bought for a quarter and sold for 75 cents, but hindsight is 20/20 in all of these names. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Ocugen executives even sounded cautiously optimistic in the company's fourth-quarter conference call last month. Hold) without suggesting a price target. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. That product drives the current bull case for Ocugen stock. 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. The FDA's decision not to issue EUA really wasn't all that surprising, though. 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.. Emergency Use . Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). This can prove to be a costly lesson to learn. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. Here are three prudent steps to take. The Motley Fool->. 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. From a broader perspective, the risk is the same as it is across biotech: most candidates fail. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Typically, I care little about financials with biotechs. 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. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. The second is that the balance sheet still needs some help. This requires no immediate effort on your part. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Copyright InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Investors should worry about companies with no revenue even under the best of circumstances. Keith Speights for As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. 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. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. Related Link: If You Invested $1,000 In Moderna Stock One Year Ago, Here's How Much You'd Have Now. How can we possibly evaluate a stock on a fundamental basis with that being reality? 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. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. It's hard to say for sure. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. In fact, the SPDR S&P 500 (NYSE:SPY) total return over the last 12 months is 34.2%. As with many biotech stocks, the most likely outcome is for the company to fail, and for shareholders to wind up with zero. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Stock Price Forecast The 6 analysts offering 12-month price forecasts for Ocugen Inc have a median target of 4.75, with a high estimate of 8.00 and a low estimate of 3.00. Our 3 Top Picks. When the market crashed during the U.S. pandemic outbreak in March, shares of vaccine makers understandably soared as work began on developing vaccines to fight COVID-19. 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. Keith Speights has no position in any of the stocks mentioned. 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. 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Our 3 Top Picks. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. The median estimate. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. What Is the Best EV Stock to Buy Now? 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. These options will be cheaper than owning the stock itself. Invest better with The Motley Fool. And a partnership with Chinas CanSino Biologics (OTCMKTS:CASBF) should help the company develop its pipeline. Not an offer or recommendation by Stocktwits. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. Ocugen sold $25 million of stock in a private placement before the merger. 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. First, the balance sheet is in at least decent shape. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. 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. The company stated that it will pursue a path to file for full FDA approval of Covaxin. It means that raising capital will be more difficult going forward. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. 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. Theres even room for more lines. Making the world smarter, happier, and richer. CanSinoBio will receive some of the profits, but Ocugen still would skyrocket with FDA approval and ensuing revenue and there are more products in the pipeline. Conditions only seem to get worse for Ocugen (NASDAQ:OCGN). Assuming it wins approval for the vaccine, the challenge for the company then will be to achieve commercial success. Historical daily share price chart and data for Ocugen since 2023 adjusted for splits. Keith Speights owns shares of Pfizer. See disclosure here. 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. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. 1125 N. Charles St, Baltimore, MD 21201. 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.
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