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Highlights
- Ocugen, Inc. (NASDAQ:OCGN) has entered into a development and supply agreement with Bharat Biotech for a Covid-19 vaccine candidate.
- Aditxt, Inc. (NASDAQ:ADTX) has entered into a transaction agreement for acquiring a subsidiary of AiPharma Global.
- The OCGN stock jumped 119.87% YTD.
The stocks of Ocugen, Inc. (NASDAQ:OCGN) and Aditxt, Inc. (NASDAQ:ADTX) were catching investors' attention on Tuesday and were up 1% and 5%, respectively, in intraday trading.
The OCGN stock was priced at US$6.825, up 1.11%, while ADTX traded at US$1.65, up 5.10%, at around 12:17 pm ET from their previous closing price.
Here we explore their recent developments and the stock performance.
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Ocugen, Inc. (NASDAQ:OCGN)
Ocugen is a Malvern, Pennsylvania-based biopharmaceutical company that develops gene therapies for treating blindness and Covid-19 vaccines.
The stock surged after the company agreed on a development-and-supply deal with the Indian company Bharat Biotech for a Covid-19 vaccine candidate. In its SEC 8K filing, Ocugen said that Bharat Biotech would supply it with clinical-trial materials. After the drug’s approval, its commercial supplies will start, it added.
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Meanwhile, the World Health Organization is expected to decide on the emergency listing authorization of Covaxin developed by Bharat Biotech and Ocugen. Ocugen has a market cap of US$1.36 billion and a forward P/E one year of -24.11. Its stock grew by 119.87 percent YTD.
Ocugen’s 52-week highest and lowest stock prices were US$18.77 and US$0.25, respectively. Its trading volume was 9,443,635 on October 4.
The company's loss from operations was US$25.61 million in Q2, FY21, compared to a loss of US$3.36 million in the year-ago quarter. It reported a net loss of US$25.95 million, compared to a loss of US$3.61 million in Q2, FY20.
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Source: Pixabay
Aditxt, Inc. (NASDAQ:ADTX)
Aditxt is a Richmond, Virginia-based biotechnology company that develops therapies to boost the immune system.
The stock rose after it announced the possibility of a definitive agreement by November to acquire AiPharma, a subsidiary of AiPharma Global Holdings LLC.
The deal, if successful, is expected to aid Aditxt in expanding its business. It will also help the company to develop, monitor, and treat infectious diseases.
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Its market cap is US$35.64 million, and the forward P/E one year is 7.14. The ADTX stock plunged 25.24 percent YTD. The 52-week highest and lowest stock prices were US$6.73 and US$1.51, respectively. Its share volume on October 4 was 1,244,208.
The company reported a net loss of US$6.17 million, or a loss of US$0.42 per share, in the quarter ended on June 30, compared to a loss of US$534 thousand, or a loss of US$0.14 per share in the same period of the previous year.
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Bottomline
The healthcare sector has been on investors' radar due to its robust growth over the past year. The S&P 500 healthcare sector increased by 10.49 percent YTD, showing the sector’s sustained growth. However, investors should evaluate the companies carefully before investing in stocks.
