2H51 Stock Overview

A biopharmaceutical company, focuses on discovering, developing, and commercializing novel gene and cell therapies, biologic, and vaccines that improve patients’ health. More details

2H51 fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	0/6
Past Performance	0/6
Financial Health	4/6
Dividends	0/6

Risk Analysis

Makes less than USD$1m in revenue ($0)

Shares are highly illiquid

Has less than 1 year of cash runway

Shareholders have been diluted in the past year

+ 1 more risk

Community vs My Fair Value

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Ocugen, Inc. Competitors

Allogene Therapeutics

NasdaqGS:ALLO

US$421.5m

Cullinan Therapeutics

NasdaqGS:CGEM

US$514.3m

CanBas

TSE:4575

JP¥19.0b

Savara

NasdaqGS:SVRA

US$546.7m

Price History & Performance

Summary of share price highs, lows and changes for Ocugen
Historical stock prices
Current Share Price	US$0.35
52 Week High	US$0.35
52 Week Low	US$0.35
Beta	3.56
1 Month Change	0%
3 Month Change	n/a
1 Year Change	-65.59%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-93.48%

Recent updates

Shareholder Returns

	2H51	BG Biotechs	BG Market
7D	0%	0%	0%
1Y	-65.6%	0%	0%

Return vs Industry: 2H51 underperformed the BG Biotechs industry which returned -8.1% over the past year.

Return vs Market: 2H51 underperformed the BG Market which returned 11.5% over the past year.

Price Volatility

Is 2H51's price volatile compared to industry and market?
2H51 volatility
2H51 Average Weekly Movement	n/a
Biotechs Industry Average Movement	0%
Market Average Movement	0%
10% most volatile stocks in BG Market	0%
10% least volatile stocks in BG Market	0%

Stable Share Price: 2H51 has not had significant price volatility in the past 3 months.

Volatility Over Time: Insufficient data to determine 2H51's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
2013	84	Shankar Musunuri	www.ocugen.com

Ocugen, Inc., a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. The company’s pipeline product includes OCU400, a novel gene therapy product candidate restoring retinal integrity and function across a range of genetically diverse inherited retinal diseases, such as retinitis pigmentosa and leber congenital amaurosis; OCU410 and OCU410ST for the treatment of dry age-related macular degeneration (AMD); and OCU200, a novel fusion protein that is in preclinical development stage for the treatment of diabetic macular edema, diabetic retinopathy, and wet AMD. It has a strategic partnership with CanSino Biologics Inc. for gene therapy co-development and manufacturing; and Bharat Biotech for the commercialization of COVAXIN in the United States market.

Ocugen, Inc. Fundamentals Summary

How do Ocugen's earnings and revenue compare to its market cap?
2H51 fundamental statistics
Market cap	€234.13m
Earnings (TTM)	-€69.63m
Revenue (TTM)	n/a

0.0x

P/S Ratio

-3.4x

P/E Ratio

Is 2H51 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
2H51 income statement (TTM)
Revenue	US$0
Cost of Revenue	US$47.28m
Gross Profit	-US$47.28m
Other Expenses	US$28.24m
Earnings	-US$75.52m

Last Reported Earnings

Sep 30, 2023

Next Earnings Date

n/a

Earnings per share (EPS)	-0.29
Gross Margin	0.00%
Net Profit Margin	0.00%
Debt/Equity Ratio	4.7%

How did 2H51 perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/02/28 07:54
End of Day Share Price	2023/12/01 00:00
Earnings	2023/09/30
Annual Earnings	2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Ocugen, Inc. is covered by 5 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Daniil Gataulin	Chardan Capital Markets, LLC
Swayampakula Ramakanth	H.C. Wainwright & Co.
Michael Okunewitch	Maxim Group

2H51 Stock Overview

Risk Analysis

Ocugen, Inc. Competitors

NasdaqGS:ALLO

US$421.5m

NasdaqGS:CGEM

US$514.3m

TSE:4575

JP¥19.0b

NasdaqGS:SVRA

US$546.7m

Price History & Performance

Recent News & Updates

Ocugen, Inc. Auditor Raises 'Going Concern' Doubt

Ocugen Announces Positive Opinion of EMA’s Committee for Advanced Therapies for ATMP Classification for Novel Modifier Gene Therapy Candidate OCU410 for Geographic Atrophy and OCU410ST for Stargardt Disease

Ocugen, Inc. Announces FDA Alignment on Phase 2/3 Pivotal Confirmatory Clinical Trial for Modifier Gene Therapy Candidate OCU410ST for Stargardt Disease

Ocugen, Inc. to Report Q4, 2024 Results on Mar 05, 2025

Ocugen, Inc. Announces Dosing Completion in the Phase 2 ArMaDa Clinical Trial for OCU410

Ocugen, Inc. Announces Positive Opinion of European Medicines Agency's Committee for Advanced Therapies for Advanced Therapy Medicinal Product Classification for Modifier Gene Therapy Candidate OCU400 for Retinitis Pigmentosa

Recent updates

Ocugen, Inc. Auditor Raises 'Going Concern' Doubt

Ocugen Announces Positive Opinion of EMA’s Committee for Advanced Therapies for ATMP Classification for Novel Modifier Gene Therapy Candidate OCU410 for Geographic Atrophy and OCU410ST for Stargardt Disease

Ocugen, Inc. Announces FDA Alignment on Phase 2/3 Pivotal Confirmatory Clinical Trial for Modifier Gene Therapy Candidate OCU410ST for Stargardt Disease

Ocugen, Inc. to Report Q4, 2024 Results on Mar 05, 2025

Ocugen, Inc. Announces Dosing Completion in the Phase 2 ArMaDa Clinical Trial for OCU410

Ocugen, Inc. Announces Positive Opinion of European Medicines Agency's Committee for Advanced Therapies for Advanced Therapy Medicinal Product Classification for Modifier Gene Therapy Candidate OCU400 for Retinitis Pigmentosa

Ocugen, Inc. Announces Positive Opinion of European Medicines Agency's Committee for Advanced Therapies for Advanced Therapy Medicinal Product Classification for Modifier Gene Therapy Candidate OCU400 for Retinitis Pigmentosa

Ocugen, Inc. Announces Investigational New Drug Application in Effect After Review by FDA to Initiate Phase 1 Clinical Trial Evaluating First-in-Class OCU500 Inhaled Vaccine Candidate for COVID-19

Ocugen, Inc. Announces First Patient Dosed in Phase 1 Clinical Trial of OCU200—a Novel Integrin-Targeting Biologic for Diabetic Macular Edema

Ocugen, Inc. Announces Positive 2-Year Data Across Multiple Mutations from Phase 1/2 Clinical Trial of OCU400

Ocugen, Inc. Receives A Notification Letter from Nasdaq Regarding Minimum Bid Price

Ocugen, Inc. Announces Data and Safety Monitoring Board Reviewed Interim Safety Data of Phase 2 Subjects of OCU410 ArMaDa Clinical Trial for Geographic Atrophy Secondary to Dry Age-Related Macular Degeneration

Ocugen, Inc. Announces Compelling Preliminary Data for OCU410--Single Dose Novel Modifier Gene Therapy to Treat Geographic Atrophy Secondary to Dry Age-Related Macular Degeneration

Ocugen, Inc. Announces Executive Changes

Ocugen, Inc. announced that it has received $30 million in funding

Ocugen, Inc. to Report Q3, 2024 Results on Nov 08, 2024

Ocugen, Inc. Announces Removal of Clinical Hold on Investigational New Drug Application for Ocu200 Phase 1 Clinical Trial

Ocugen, Inc. Announces FDA Approval of Expanded Access Program for Patients with Retinitis Pigmentosa

Ocugen, Inc. has completed a Follow-on Equity Offering in the amount of $35 million.

Ocugen, Inc. has completed a Follow-on Equity Offering in the amount of $35 million.

Ocugen, Inc. to Report Q2, 2024 Results on Aug 08, 2024

Ocugen, Inc. Announces Completion of Dosing in Subjects with Geographic Atrophy Secondary to dAMD in High-Dose Cohort of Phase 1/2 Armada Clinical Trial of OCU410 —A Novel Modifier Gene Therapy

Ocugen, Inc. Announces Data and Safety Monitoring Board Approves Enrollment in High Dose Cohort 3 in GARDian Study for Stargardt Disease

Ocugen, Inc. Announces First Patient Dosed in Phase 3 Limelight Clinical Trial for Ocu400—First Gene Therapy in Phase 3 with A Broad Retinitis Pigmentosa Indication

Law Offices of Howard G. Smith Alleges Lawsuit Against Ocugen, Inc

Ocugen, Inc. Announces Positive Outcome of the Data and Safety Monitoring Board Review for its Phase 1/2 ArMaDa Clinical Trial for OCU410

Ocugen, Inc., Annual General Meeting, Jun 28, 2024

Ocugen Announces Dosing Completion of Subjects with Stargardt Disease in Cohort 2 of Phase 1/2 GARDian Clinical Trial of OCU410ST—A Modifier Gene Therapy

Ocugen, Inc. Announces Ocu400 Modifier Gene Therapy Phase 1/2 Data Presentation At Retinal Cell and Gene Therapy Innovation Summit 2024

Ocugen, Inc. Announces Dosing Completion of Subjects with Geographic Atrophy in Cohort 2 of Phase 1/2 ArMaDa Clinical Trial of OCU410 --A Modifier Gene Therapy

Rosen Law Firm Files Securities Class Action Lawsuit on Behalf of Ocugen, Inc

Ocugen, Inc. Announces U.S. FDA Clearance of IND Amendment to Initiate OCU400 Phase 3 Clinical Trial

Ocugen, Inc. Announces Positive Data and Safety Monitoring Board Review and Initiation of Enrollment in Medium Dose for Ocu410--A Modifier Gene Therapy-- in Phase 1/2 Armada Study for Geographic Atrophy

Ocugen Provides Business Update

Ocugen, Inc. to Report Q4, 2023 Results on Apr 02, 2024

Ocugen, Inc. Appoints Huma Qamar as Chief Medical Officer

Ocugen, Inc. Announces Dosing Completion of Subjects with Geographic Atrophy in Cohort 1 of Phase 1/2 Clinical Trial Evaluating the Safety and Efficacy of OCU410

Ocugen, Inc. Announces Dosing Completion of Subjects with Stargardt in Cohort 1 of Phase 1/2 Clinical Trial Evaluating the Safety and Efficacy of OCU410ST

Ocugen, Inc. Announces Bob Smith Joins Business Advisory Board

Ocugen, Inc. Gains FDA Alignment on Key Aspects of OCU400 —Modifier Gene Therapy—Pivotal Phase 3 Study Design

Ocugen, Inc. Announces First Patient Dosed in Phase 1/2 Clinical Trial Evaluating the Safety and Efficacy of OCU410—Modifier Gene Therapy—For Geographic Atrophy Secondary to Dry Age-Related Macular Degeneration

Ocugen, Inc. Announces First Patient Dosed in Phase 1/2 Clinical Trial Evaluating the Safety and Efficacy of OCU410ST --Modifier Gene Therapy-- for Stargardt Disease

Ocugen, Inc. to Report Q3, 2023 Results on Nov 09, 2023

Ocugen, Inc. Announces Ocugen Mucosal Vaccine Candidate OCU500 Selected by NIH NIAID Project NextGen for Inclusion in Clinical Trials

Ocugen, Inc. Appoints Connie Collingsworth to the Business Advisory Board

Ocugen, Inc. Announces Executive Changes

Ocugen, Inc. Announces Positive Clinical Study Update from the Phase 1/2 Trial of Ocu400, A Modifier Gene Therapy Product Candidate, for the Treatment of Retinitis Pigmentosa and Leber Congenital Amaurosis

Ocugen, Inc. to Report Q2, 2023 Results on Aug 21, 2023

Ocugen, Inc. announced delayed 10-Q filing

Ocugen, Inc. Announces Business Advisory Board

Ocugen, Inc. has completed a Follow-on Equity Offering in the amount of $15 million.

Ocugen, Inc. has completed a Follow-on Equity Offering.

No longer forecast to breakeven

Ocugen, Inc. to Report Q4, 2022 Results on Feb 28, 2023

Ocugen, Inc. Appoints Quan A. Vu as Chief Business Officer

Ocugen, Inc. Announces Positive Top-Line Data for COVID-19 Vaccine Candidate COVAXIN™ (BBV152) in Phase 2/3 Immuno-Bridging and Broadening Study: Both Co-Primary Endpoints Met

Forecast to breakeven in 2025

Ocugen, Inc Announces Update on OCU400 Phase 1/2 Clinical Trial Targeting Retinitis Pigmentosa and Leber Congenital Amaurosis

High number of new directors

Ocugen, Inc. to Report Q3, 2022 Results on Nov 08, 2022