Buying stocks shouldn't be like buying lottery tickets, but sometimes it can make sense to bet on a long shot. On that note, Ocugen (NASDAQ: OCGN) stock is down by more than 65% this year as the small biotech has struggled to commercialize a coronavirus vaccine.

But could that just be the preamble to eventual triumph? Let's see.

Right now, the company doesn't make a cent of revenue as it has no products on the market. To remedy that issue, it's licensing a coronavirus vaccine called Covaxin from Bharat Biotech, an Indian pharmaceutical business. But regulators at the Food and Drug Administration (FDA) are requiring it to perform clinical trials to prove Covaxin's safety and efficacy, so the shot isn't approved for sale yet in the U.S.

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Source Fool.com