Monday, August 09, 2021
Ocugen (OCGN)
Making Progress With Covaxin and Gene Therapy
Ocugen Inc is a clinical stage biopharmaceutical company. It is focused on discovering, developing and commercializing a pipeline of innovative therapies that address rare and underserved eye diseases. Ocugen offers a diversified ophthalmology portfolio that includes novel gene therapies, biologics, and small molecules and targets a broad range of high-need retinal and ocular surface diseases.
Robert LeBoyer, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Ocugen reported 2Q21 loss of $26.0 million or $(0.13) per share, compared with our estimate of $7.7 million or $(0.04) per share. The difference was mostly due to a $15 licensing fee paid to Bharat Biotech for an amendment to expand Covaxin rights in Canada. Excluding this one-time payment, the loss would have been $11.0 million or $(0.06) per share. The company ended 2Q21 with $115.8 in total cash.
Covaxin Continues To Make Progress Toward The Market. Ocugen reported that the review process for regulatory approval in Canada is underway. Bharat Biotech has selected Jubilant HollisterStier as its Covaxin manufacturing partner and has begun the technology transfer. The company is continuing discussions with the FDA regarding the requirements for BLA submission, although no new details were …
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.
