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Ocugen (OCGN) – 2Q22 Reported With New Pipeline Program Moving Forward

Health
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Monday, August 08, 2022

Ocugen (OCGN)
2Q22 Reported With New Pipeline Program Moving Forward

Ocugen, Inc. is a biotechnology company focused on developing and commercializing novel gene therapies, biologicals, and vaccines. The lead product, Covaxin, is a killed-virus vaccine for COVID-19 in-licensed from Bharat Biotech (India). The lead product in its gene therapy program, OCU400, is in Phase 1/2 clinical trials for retinitis pigmentosa.

Robert LeBoyer, Vice President, Research Analyst, Life Sciences , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Second Quarter Reflects Increases In Pipeline Activity.  Ocugen reported a loss of $19.5 million or $(0.09) per share, greater than our estimated loss of $16.7 million or $(0.07) per share.  The difference was due to higher expenses from clinical trials and increased headcount as the company added development staff.  The company ended the quarter with $115.0 million in cash.

Covaxin Clinical Studies Move Forward.  Ocugen is currently conducting a Phase 2/3 immuno-bridging study for US approval.  Discussions continue with Health Canada regarding additional information that may be required for Canadian approval.  In Mexico, Covaxin has received emergency use authorization for adults, with submission for pediatric use under review.  Due to the shortages of other COVID-19 vaccines in Mexico, this territory is a near-term opportunity for Covaxin….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

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