Battered and out of options, Histogenics turns to eye drug developer Ocugen for reverse merger

Microcap company Histogenics has managed to stir up a final rally around its stock before it’s relegated to the biotech history books.

Malvern, PA-based Ocugen, a developer of gene therapies and other biologics for rare eye diseases, has struck a reverse merger deal with the struggling Histogenics. Its shares $HSGX rose as much as 144% — though that translates to pennies in the Histogenics’ world.