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Tag: OCGN stock price

  • Ocugen, Inc. (OCGN) stock gained in the Pre-market; here is why?

    Ocugen, Inc. (OCGN) stock gained in the Pre-market; here is why?

    Ocugen, Inc. (OCGN) gained in the pre-market after announcing the fourth quarter and fiscal 2021 results. OCGN values at $3.17 gained more than 3.92% compared to yesterday’s closing price. The stock closed at $3.06 at the end of the last trading session. The stock volume traded in the last trading session was around 13.32 million shares. The current market cap of the company is around $623.45 million.

    OCGN: Q4 and Fiscal 2021 Key Financials

    • In the fourth quarter of 2021, R&D spending was $7.1 million. Around $1.6 million was spent on R&D in Q4 2020. In the fiscal year 2021, R&D expenses were $35.1.1 million. Around $6.4 million was spent on R&D in fiscal 2020.
    • General and administrative expenses in Q4 2021 were around $7.5 million. In the same quarter of 2020, it was around $2.2 million. General and administrative expense in fiscal 2021 was around $22.2 million. In fiscal 2020 it was around $8 million.
    • When compared to Q4 2020, Q4 2021’s loss per share was $0.07, while the loss per share in Q4 2020 was only $0.02. With a $7.0 million in-process research and development expenditure linked to lowering the carrying value of an asset previously classified as held for sale, OCGN announced a $0.30 net loss per share for the year ended December 31, 2021.

    OCGN Major Business Achievements

    FDA approved Phase 2/3 clinical trial to support a BLA filing in the United States after the FDA withdrew its clinical hold on the IND application for COVAXIN (BBV152).

    Additional neutralization data against Omicron were provided as part of FDA engagement to advance the pediatric EUA for COVAXIN, with more than 36 million vaccinated teens on record.

    The company filed detailed answers to Health Canada’s NOD on COVAXIN.

    For the treatment of hereditary retinal illnesses caused by NR2E3 and RHO disease genotypes, they started OCU400 Phase 1/2 clinical study.

    Conclusion

    Ocugen, Inc. (OCGN) is a pre-revenue company and has recently developed a covid-19 vaccine. The company is also working on researching the treatment of other diseases. The company is looking forward to the approval from NOD Canada for the approval of COVAXIN.

  • Why Is Ocugen (OCGN) Stock Increasing Today?

    The shares of Ocugen Inc. (OCGN) are up 3.58% to $6.67 in early trading this morning. The Ocugen stock was down by -4.17% to $6.44 at the end of the last trading session. There were 13.28 million shares traded in OCGN stock yesterday. That was below the volume of 44.31 million shares in a daily average for the past 50 days.

    OCGN stock has declined 10.06 percent in the last five days; however, it has gained 5.06% over the past month. Over the last three months, the stock price of OCGN has shed -6.67% and is up 251.91% so far this year. In response to a submission to the Canadian health authority, OCGN stock is rising.

    What OCGN has been submitting?

    As a biopharmaceutical company, Ocugen aims to discover, develop, and commercialize gene therapies for blindness diseases and to develop a vaccine against COVID-19. OCGN’s breakthrough platform for gene therapy, which treats multiple retinal diseases with one drug, has the potential to treat multiple diseases with the same drug.

    With OCGN’s novel biologic product candidate, patients with diseases like wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy will be able to receive better treatment options. Bharat Biotech’s COVAXIN, a vaccine candidate for COVID-19, is being co-developed by OCGN in the United States and Canada.

    A rolling submission for COVAXIN has been made to Health Canada by Ocugen, announced the company in a press release today. Following the publication of results from Bharat Biotech’s Phase 3 clinical trial, which showed efficacy and safety in nearly 25,800 adults, OCGN intends to make this move.

    The Minister of Health recommended and accepted the rolling submission process relating to the importation, sale and advertising of drugs for use with COVID-19 and transitioned to the New Drug Submission for COVID-19, which will allow companies to submit safety and efficacy information as it becomes available. Often referred to as rolling reviews, this allows Health Canada to begin its review immediately as new information becomes available, allowing the overall review process to move faster.

    How OCGN will proceed?

    In the rolling submission, Ocugen (OCGN) is represented by its affiliate, Vaccigen, Ltd. OCGN must submit evidence that supports the safety, effectiveness, and quality of their product to Health Canada for review. OCGN will work with Health Canada to bring another safe and effective option for the fight against COVID-19 and its Delta variant, and will be supporting Health Canada for their upcoming review of COVAXIN.

  • Here is why Ocugen Inc. (OCGN) stock turnaround in the after-hours on Friday?

    Ocugen Inc. (OCGN) shares gained 13.85% in after-hours on Friday, July 2, 2021, and closed at $8.30 per share. Earlier in the morning session on Friday, OCGN’s stock lost 6.90% to close Friday’s session at $7.29. OCGN shares have risen 3195.66% over the last 12 months, and they have moved down 12.69% in the past week. Over the past three months, the stock has gained 10.96%, while over the past six months, it has shed 298.36%.

    Let’s have a look at its recent developments.

    Positive results from phase 3 study of COVAXIN

    On July 02, 2021, Ocugen, Inc, co-development partner, Bharat Biotech, shared positive results of its Phase 3 study of COVAXIN. COVAXIN™ demonstrated a vaccine efficacy in mild, moderate, and severe COVID-19 disease of 77.8% with efficacy against severe COVID-19 disease alone of 93.4%.

    In phase 3 clinical trial, 25,798 participants across 25 sites and between 18-98 years of age in India were enrolled, including 2,750 over the age of 60 and 7,065 with comorbidities.

    Subjects vaccinated with COVAXIN™ in the phase 3 trial, achieved greater protection against emerging B.1.617.2 (delta) and B.1.351 (beta) variants than those who had previous natural infections. The phase 3 results showed an efficacy rate of 65.2% (95% CI; 33.1-83.0).

    New appointment

    On June 21, 2021, Ocugen, Inc appointed Ken Inchausti as Head, Investor Relations & Communications. Mr Inchausti will oversee the company’s investor relations activities, corporate communications and strategic positioning, leading issues management strategy and proactive media and social media relations programming.

    Inducement grants

    On June 18, 2021, the Board of Directors of Ocugen approved the grant of stock options to purchase an aggregate of 157,450 shares of its common stock and restricted stock units (RSUs) covering an aggregate of 26,300 shares of common stock to four new employees.

    Coronavirus Vaccine Manufacturer in the US

    On June 15, 2021, Ocugen, Inc selected Jubilant HollisterStier of Spokane, Washington as its manufacturing partner for COVAXIN™ to prepare for potential commercial manufacturing of COVAXIN™ for the US and Canadian markets.

    Ocugen aimed for full U.S. approval of COVAXIN

    On June 10, 2021, Ocugen Inc said that the company is no longer pursue an emergency use authorization for its COVID-19 vaccine candidate and would instead aim to file for a full U.S. approval of the shot.

    The decision is based on FDA asked for more information and data for full approval.

    Conclusion

    The recent phase 3 trial results of COVAXIN showed positive results against deadly variants which was the reason behind its surge in the after-hours on Friday. the OCGN stock can continue its surge on Tuesday, after the long weekend.

     

  • Ocugen, Inc. (OCGN) stock falls in Pre-Market today: Why is it so?

    Ocugen, Inc. (OCGN) stock falls in Pre-Market today: Why is it so?

    Shares of Ocugen, Inc. (OCGN) stock were down in the per market trading session today after recording the gain of 6.69% with an $11.96 per share price. OCGN stock price went down by 3.60% to drop at $11.53 a share at the time of this writing. There is no particular activity by the Ocugen today however OCGN stock on April 28, 2021, announced the closing of a previously announced registered direct offering of common stock. Let’s explore more about OCGN stock.

    What’s happening?

    There is no specific reason behind the declining stock price of the OCGN stock today. No signs of analysts’ downgrade or shrank targeted per share price of the OCGN stock have been in the recent news. The most recent activity by the Ocugen stock is that it announced the closing of the previously announced registered direct offering of its common stock. OCGN stock offered 10 million shares of its common stock to healthcare-focused institutional investors at a purchase price of $10 per share. The gross proceeds resulting from this offering were roughly $100 million without the deduction of placement agent’s fees and other offering-related expenses which Ocugen has to pay.

    Net proceeds resulted from this offering would be used for general corporate purposes and capital expenditures by the OCGN stock. Moreover, part of the proceeds will also be used in the working capital as well as general and administrative expenses by the Ocugen stock.

    COVID-19 Vaccine Development:

    About a week ago, OCGN’s partner Bharat Biotech announced positive data for the second interim analysis of the phase 3 study of Covaxin. According to the data, Covaxin showed 100% efficacy against severe COVID-19 disease, and efficacy of 78% was shown by Covaxin candidate against mild, moderate, and severe COVID-19 disease. After getting encouraging results from the phase 3 study, Ocugen stock is hoping to win the EUA for Covaxin. Currently, Covaxin has been playing a major role in the fight against deadly pandemic in India.

    Conclusion:

    OCGN stock is gloomy so far in the stock market but it showed considerable overall growth in recent times.The positive results of the phase 3 study of Covaxin are the main reason behind this growth but still OCGN stock is lagging in the race of COVID-19 vaccine development as companies like Pfizer, Moderna, and Johnson& Johnson have already contracted the U.S government for the supply of millions of vaccine doses.

  • Ocugen Inc. (OCGN) stock has surged in the premarket trading session. Here’s why

    Ocugen Inc. (OCGN) stock has surged in the premarket trading session. Here’s why

    In the premarket trading session, Ocugen Inc. (OCGN) stock soared by 20.56% to trade at $11.61at the time of writing. OCGN closed Friday’s session at $9.63 with a 3.66% gain. The OCGN stock volume traded 504.64 million shares today. The average volume of trade for the past 3 months has been 69.44 million. In the past year up to date period, OCGN stock surged by 2891.61% while rallying by 66.61% for the past 5 consecutive days. In the last three months, OCGN shares added 341.74%, and further added 2957.14%. In the last six months. Ocugen Inc. is currently valued in the market at $1.75 billion and has 188.09 million outstanding shares.

    Ocugen’s retinal therapy product offering

    Ocugen Inc. is a biopharmaceutical company that is focused on designing, developing, and commercializing of innovative therapies that aim to target the unmet needs of patients with diseases.  The transformative therapies that the company designs are gene therapies that specifically developed for targeting blindness diseases and restoration of sight. Ocugen Inc. uses proprietary modifier gene therapy platform which has become a breakthrough in treating multiple retinal diseases with one drug. Furthermore, OCGN stock has novel therapies for the treatment of age-related macular degeneration (AMD), diabetic retinopathy, and diabetic macular edema.

    Announcing a definitive agreement for a $100 million direct offering

    On 24th April 2021, Ocugen Inc. announced that it entered into an agreement with healthcare-focused institutional investors. This definitive agreement was made for the sale of $100 million registered shares of OCGN’s common stock in a direct offering at a price per share of $10. The deal is expected to take place around 27th April 2021, if everything happens according to customary closing conditions and satisfaction.

    These healthcare-focused institutional investors’ offering were placed through the exclusive placement agent firm known as H.C. Wainwright & Co. The purpose of the offering and the deal is for OCGN stock to use the net proceed for general business activity and corporate purposes.

    Bharat Biotech achieves positive second interim data for its COVAXIN, COVID-19 vaccine study

    On 22nd April 2021, announced that Bharat Biotech (co-development partner) has achieved success in a late-stage study of COVAXIN. COVAXIN is a vaccine in development for COVID-19 and the positive data of the study made the shares of the OCGN stock go up the charts.

    The study of COVAXIN was in its phase III and the second interim analysis demonstrated a positive result of 78% efficacy for COVID-19 in mild, moderate-severe COVID-19 symptoms and variants while the study also claims that in the severe cases of COVID-19, COVAXIN showed 100% efficacy. The study also had a subgroup of participants for the RT-PCR test and found that the efficacy against asymptomatic COVID-19 infection was 70%.

    OCGN stock’s future plans of commercializing

    The company has planned an agreement its co-development partner Bharat Biotech to distribute and commercialize COVAXIN in the U.S market which includes the technology transfer of manufacturing and share in the profits of US market sales- Ocugen will retain 45% of the profit. Furthermore, Bharat Biotech is waiting for the Emergency Use Authorization which will allow it to supply a certain amount of minimum number of COVAXIN doses.

  • Ocugen (OCGN) Stock Price Increased by 270% On A Year To Date Basis. Here’s What Happened

    Ocugen (OCGN) Stock Price Increased by 270% On A Year To Date Basis. Here’s What Happened

    Ocugen (OCGN) stock is a relatively new biotechnology company specializing in diverse and lucrative fields such as gene therapy and Covid 19 vaccines. In February, OCGN made a contractual agreement with Bharat Biotech to produce the Covaxin Covid-19 vaccine, which showed minimal side effects and had an 81% efficacy rate in phase 3 clinical trial in India soaring OCGN Stock price by 270%. Ocugen agreement stipulates that it will commercialize the vaccine in the U.S, targeting a huge demographic and capturing a staggering 45% of the profits from its sale.

    The vaccine produced by OCGN is an inactivated vaccine. Primarily, an inactivated or dead form of the SARS-CoV-2 virus is inserted into the human bloodstream. Afterwards antibody production is started by the immune system and the body ‘Learns’ the defense mechanism. Hence if an infection occur, the immune system can respond swiftly and efficiently.

    Now What

    Financially, the company consists of over $24 million in capital and has approximately $2.1 million in debt. In 2020, its net losses were $21.8 million, however new OCGN stock can be issued to generate capital and new income from vaccines could further help Ocugen to diversify its pipeline.

    Furthermore, Pfizer, Moderna, and AstraZeneca have already started mass production of their vaccines, hence OCGN can have a hard time grabbing a significant share in the saturated market. However, Bharat Biotech claims that Covaxin demonstrates “significant immunogenicity against the rapidly emerging variants.” giving OCGN product line distinctive competency over other vaccines which can produce a potentially huge financial surplus.

    Conclusion

    OCGN has invested in a very lucrative market of vaccines especially amongst the time of a pandemic. A strategic relationship with Bharat Biotech combined with an 81% efficacy rate of the vaccine has peaked investor interest with speculations of high capital gains in the near future.