Ocugen, Inc.
OCGN
will provide updates on its pipeline developments when it reports fourth-quarter 2020 results.
The company has a negative earnings surprise history, missing expectations in three of the trailing four quarters. The average negative earnings surprise was 274.44%. In the last reported quarter, the company delivered a negative earnings surprise of 250%.
Shares of Ocugen have surged 1801% in the past year compared with the
industry
’s growth of 12.2%.
Let’s see how things are shaping up for this announcement.
Key Developments
Ocugen receives collaboration revenues, which consist of royalty payments received in connection with agreements accounted for as collaborative arrangements. However, the company does not have any marketed product in its portfolio yet.
The company will provide updates on its pipeline development in the fourth quarter.
Ocugen’s first gene therapy candidate, OCU400, is being developed to treat retinitis pigmentosa (RP). Ocugen is planning to initiate two phase I/IIa studies on OCU400 in the second half of 2021.
Its second gene therapy candidate, OCU410, is being developed to utilize the nuclear receptor genes RAR-related orphan receptor A (RORA) for the treatment of dry age-related macular degeneration (AMD). This candidate is currently in preclinical development. Ocugen is planning to initiate a phase I/IIa study on OCU410 in 2022.
In October 2020, the company entered into an agreement with Kemwell Biopharma Pvt. Ltd to manufacture its biologic product candidate, OCU200. OCU200 is being evaluated to treat diabetic macular edema (DME), diabetic retinopathy (DR) and wet AMD. Ocugen plans to expand the therapeutic applications of OCU200 beyond DME, DR and wet AMD to potentially include macular edema following retinal vein occlusion and myopic choroidal neovascularization. It expects to initiate an investigational new drug (IND) application on OCU200 in 2021 and a phase I/IIa study on the candidate in the first half of 2022.
In February 2021, Ocugen and Bharat Biotech entered into a definitive agreement to co-develop, supply and commercialize Bharat Biotech’s COVAXIN, an advanced-stage whole-virion inactivated COVID-19 vaccine candidate, for the U.S. market. Per the agreement, Ocugen will have U.S. rights to the vaccine candidate and will be responsible for clinical development, regulatory approval (including Emergency Use Authorization [EUA]) and commercialization for the U.S. market.
What Our Model Indicates
Our proven model does not conclusively predict an earnings beat for Ocugenthis season. The combination of a positive
Earnings ESP
and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.
Earnings ESP:
Ocugen has an Earnings ESP of 0.00%. Both the Zacks Consensus Estimate andtheMost Accurate Estimate stood at a loss of 2 cents. You can uncover the best stocks to buy or sell before they’re reported with our
Earnings ESP Filter
.
Zacks Rank:
The company currently carries a Zacks Rank #3. You can see
the complete list of today’s Zacks #1 Rank stocks here
.
Stocks to Consider
Here are some biotech stocks that have the right mix of elements to beat on earnings this time around:
Castle Biosciences Inc.
CSTL
has an Earnings ESP of +54.55 % and a Zacks Rank #3.
ADMA Biologics, Inc.
ADMA
has an Earnings ESP of +5.88 % and a Zacks Rank #2.
Atea Pharmaceuticals Inc.
AVIR
has an Earnings ESP of +279.59% and a Zacks Rank #2.
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