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Ocugen (OCGN) Miss Earnings & Revenues Estimates in Q1
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Ocugen, Inc. (OCGN - Free Report) is a biopharmaceutical company with focus on developing gene therapies for blindness diseases and vaccine for COVID-19. The company earns revenues from its collaboration partners.
The company has no clinical-stage candidates in its portfolio. It plans to submit an Investigational New Drug application for its gene therapy candidate, OCU400, in the second half of this year. Meanwhile, Ocugen and India-based Bharat Biotech entered into a definitive agreement in February 2021 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.
Ocugen’s performance has been dismal so far, with the company’s earnings mssing expectations in three of the trailing four quarters. Overall, the company has delivered an average negative surprise of 274.44%.
Currently, Ocugen has a Zacks Rank #5 (Strong Sell), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Miss: Ocugen incurred loss of 4 cents per share in the first quarter of 2021, narrower than the loss of 7 cents in the year-ago quarter. The Zacks Consensus Estimates was pegged at an earnings of 50 cents per share.
Revenues Beat: With no approved products, the company did not report any revenues during the first quarter. However, the Zacks Consensus Estimate for revenues was $156.16 million.
Key Stats: Research and development expenses increased 73.8% year over year to $2.9 million. General and administrative expenses were $4.2 million, up 83.8% from year-ago period.
Share Price Impact: Shares were down 17.4% in pre-market trading.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
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Ocugen (OCGN) Miss Earnings & Revenues Estimates in Q1
Ocugen, Inc. (OCGN - Free Report) is a biopharmaceutical company with focus on developing gene therapies for blindness diseases and vaccine for COVID-19. The company earns revenues from its collaboration partners.
The company has no clinical-stage candidates in its portfolio. It plans to submit an Investigational New Drug application for its gene therapy candidate, OCU400, in the second half of this year. Meanwhile, Ocugen and India-based Bharat Biotech entered into a definitive agreement in February 2021 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.
Ocugen’s performance has been dismal so far, with the company’s earnings mssing expectations in three of the trailing four quarters. Overall, the company has delivered an average negative surprise of 274.44%.
Currently, Ocugen has a Zacks Rank #5 (Strong Sell), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Miss: Ocugen incurred loss of 4 cents per share in the first quarter of 2021, narrower than the loss of 7 cents in the year-ago quarter. The Zacks Consensus Estimates was pegged at an earnings of 50 cents per share.
Revenues Beat: With no approved products, the company did not report any revenues during the first quarter. However, the Zacks Consensus Estimate for revenues was $156.16 million.
Key Stats: Research and development expenses increased 73.8% year over year to $2.9 million. General and administrative expenses were $4.2 million, up 83.8% from year-ago period.
Share Price Impact: Shares were down 17.4% in pre-market trading.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>