|Bid||0.0000 x 2200|
|Ask||0.0000 x 2900|
|Day's Range||0.1500 - 0.2095|
|52 Week Range||0.1500 - 57.0000|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
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Chester County gene therapy and biopharmaceutical company Ocugen has completed its previously announced reverse merger with Histogenics Corp., a publicly traded company based in Boston. Ocugen, which is developing new treatments for rare and underserved eye diseases, is now trading — at $2.50 per share Tuesday afternoon — on the Nasdaq Capital Market under the ticker symbol “OCGN.” The executive team at Ocugen, led by Chairman and CEO Shankar Musunuri, is running the combined company which will be based in Malvern. Immediately prior to the merger, Ocugen (NASDAQ: OCGN) completed a $25 million private placement financing and Histogenics effected a reverse stock split of its common stock at a ratio of 1-for-60.
Histogenics (NASDAQ:HSGX) stock went gangbusters on Monday as the company has reportedly inked a deal with another business in the industry.Source: FlickrPennsylvania-based Ocugen is a developer of gene therapies and other biologics designed to treat rare eye diseases, and the company has agreed to a reverse merger with struggling Massachusetts-based business Histogenics. Ocugen was founded by Pfizer veteran Shankar Musunuri and University of Colorado professor Uday Kompella.The move will see Histogenics shareholders collectively hold about 10% of the new, combined company, which will include only Ocugen's lean team. However, before the former company's executives depart from the business, they will try to sell NeoCart, which is its regenerative treatment designed to treat knee cartilages.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe program was dropped by Histogenics in December as the Food and Drug Administration asked to see more data before accepting a BLA for review. Meanwhile, Ocugen's last financing round was reportedly a $7.5 million Series B closed in 2017, which added to its $6 million in Series A cash.Ocugen makes its bread and butter from drugs that arose from two platforms that were licensed from harvard's Schepens Eye Research Institute of Massachusetts Eye and Ear. One of these formulates therapies known as a nanoemulsion, which is reportedly more durable and effective than your run-of-the-mill eye drops, while the other is geared to deliver nuclear hormone receptor that goes into the retina.HSGX stock is up about 56% on Monday, while gaining another 9.3% after the bell. More From InvestorPlace * The Elite 8 Stocks to Buy for Massive Outperformance * 15 Stocks to Buy Leading the Financial Charge * 8 Best Stocks to Buy for an April Rally Compare Brokers The post Histogenics News: Why Did HSGX Stock Soar Today? appeared first on InvestorPlace.
The deal is a stock-for-stock transaction. Ocugen has a pipeline of opthalmology programs that include a modifier gene therapy platform, including OCU400 for the treatment of NR2E3-mutation associated retinal degenerative diseases.
On a per-share basis, the Waltham, Massachusetts-based company said it had net income of 24 cents. The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by ...