Could Ocugen Become the Next Moderna?

Ocugen (NASDAQ: OCGN) became a surprise entrant in the coronavirus vaccine race last year. I say "surprise" because the biotech's specialty isn't vaccines or infectious diseases. Its focus is on gene therapy for eye diseases.

But Ocugen signed a deal with India's Bharat Biotech for the U.S. co-commercialization rights of the company's close-to-market vaccine candidate Covaxin -- and investors cheered. In fact, all this interest propelled the stock to a 149% gain last year. And at its highest point, it rose more than 750%.

Eye-popping share gains and a potential coronavirus vaccine may make us think of another biotech company. I'm talking about vaccine-leader Moderna (NASDAQ: MRNA). The company's shares soared 434% in 2020 as it developed and then commercialized a vaccine. The shares extended gains last year, and Moderna generated billions of dollars in vaccine revenue. Today, it's reasonable to ask: Could Ocugen follow in Moderna's footsteps?

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Source Fool.com