Entering text into the input field will update the search result below

Sell Ocugen On Split Stake In Potential U.S. Revenues

May 03, 2021 12:44 PM ETOcugen, Inc. (OCGN)154 Comments
Edward Vranic, CFA profile picture
Edward Vranic, CFA


  • OCGN has risen to a $2.5 billion market cap on hopes it will be able to market COVAXIN in the United States.
  • Bharat Biotech maintains a 55% stake in any U.S. profits versus 45% for OCGN plus all ex-U.S. profits. It should be valued substantially higher than OCGN.
  • A 10% stake in Bharat Biotech sold for a $175 million valuation in November, implying very little value given to COVAXIN at the time.
  • OCGN is trading at a significant liquidity and speculation premium compared to Bharat; the stock is likely headed down in the long term even upon success in the U.S. market.
Mature man taking a vaccine from his doctor
Photo by Geber86/E+ via Getty Images

Ocugen, Inc. (NASDAQ:OCGN) has been on a tear over the last several months, fueled by its agreement with Bharat Biotech to commercialize COVAXIN™, a COVID-19 vaccine, in the United States. There has been substantial debate regarding the costs, timeline and potential market

This article was written by

Edward Vranic, CFA profile picture
I am a private investor based out of Toronto, Canada and I have been investing since 2003. After 8 years in Corporate Finance with a Canadian Telecom company I have decided to dedicate myself full-time to the capital markets. I write on Seeking Alpha to demonstrate my financial analysis and writing skills across a variety of industries and to take advantage of any story-based trading opportunity that may arise. My passion and greatest depth of knowledge is on Canadian small cap stocks and I consider my blog posts to be some of my best work. I am interested in any freelance opportunities that may arise outside of Seeking Alpha on Canadian or American listed stocks.

Analyst’s Disclosure: I am/we are short OCGN. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.