9 Best Biotech Penny Stocks to Buy in 2026

7. Ocugen Inc. (NASDAQ:OCGN)

Number of Hedge Fund Holders: 14

Ocugen Inc. (NASDAQ:OCGN) is one of the best biotech penny stocks to buy in 2026. On April 1, Ocugen completed dosing ahead of schedule in its Phase 2/3 GARDian3 pivotal clinical trial for OCU410ST, a first-in-class modifier gene therapy for Stargardt disease. The trial reached its enrollment target of 63 participants in less than 9 months, reflecting high patient and investigator engagement. Ocugen expects to release topline results in the second quarter of 2027, with a BLA filing targeted for mid-2027.

OCU410ST is a one-time subretinal injection designed to address all ABCA4-associated retinopathies, regardless of specific genetic mutations. Unlike traditional gene replacement therapies, OCU410ST uses an AAV5 platform to deliver the RORA gene, which regulates multiple pathways (including oxidative stress and inflammation) linked to retinal degeneration. Clinical data from earlier Phase 1 studies showed a 54% reduction in atrophic lesion growth and an average gain of 6 letters in visual acuity compared to untreated eyes.

The GARDian3 trial includes a diverse range of subjects, from pediatric to adult, and monitors the reduction in atrophic lesion size as its primary objective over 12 months. Secondary endpoints include visual acuity improvements and the preservation of the Ellipsoid Zon, a critical indicator of photoreceptor integrity. To date, the therapy has maintained a favorable safety profile with no serious adverse events reported, such as intraocular inflammation or vasculitis.

Ocugen Inc. (NASDAQ:OCGN) works on vaccines, biologics, and novel gene and cell therapies that enhance patients’ health. Its product portfolio includes various products, including OCU400 under Phase 3 trials for the treatment of retinitis pigmentosa and Phase 1/2 trials for the treatment of Leber congenital amaurosis, OCU410 and OCU410ST both in Phase 1/2, OCU200 and NeoCart OCU500, OCU510, and OCU520.