Ocugen Prices 15 Million Share Offering at $1.50, Raising $22.5 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Ocugen announced the pricing of its underwritten offering of 15,000,000 shares of its common stock at an offering price of $1.50 per share of common stock for gross proceeds of $22.5M, before deducting commissions and other estimated offering expenses payable by Ocugen. The offering is expected to close on or about January 22, subject to the satisfaction of customary closing conditions. All of the securities to be sold in the offering are being offered by Ocugen. The financing is being led by RTW Investments, with additional participation from new and existing investors. Oppenheimer & Co. is acting as the sole book-running manager for the offering.
Analyst Views on OCGN
Wall Street analysts forecast OCGN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OCGN is 7.67 USD with a low forecast of 7.00 USD and a high forecast of 8.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 1.670
Low
7.00
Averages
7.67
High
8.00
Current: 1.670
Low
7.00
Averages
7.67
High
8.00
About OCGN
Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines that improve health and offer hope for patients across the globe. Its technology pipeline includes Modifier Gene Therapy Platform, Novel Biologic Therapy for Retinal Diseases, Regenerative Medicine Cell Therapy Platform, and Inhaled Mucosal Vaccine Platform. It is developing its modifier gene therapy platform, inclusive of OCU400, OCU410, and OCU410ST, for the treatment of multiple inherited retinal diseases, including retinitis pigmentosa, Leber congenital amaurosis, Stargardt disease and multifactorial diseases, such as dry age-related macular degeneration (dAMD) and geographic atrophy. It is developing a next-generation, inhalation-based mucosal vaccine platform based on a novel ChAd vector, which includes OCU500, a COVID-19 vaccine; OCU510, a seasonal quadrivalent flu vaccine, and OCU520, a combination quadrivalent seasonal flu.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
