Back in December, Ocugen (NASDAQ: OCGN) was a penny stock trading for as little as $0.28. However, its shares skyrocketed after it announced a partnership with India's Bharat Biotech to commercialize its coronavirus vaccine in the U.S. As a result, shareholders who bought Ocugen stock for literal pennies on Dec. 1 are now up a mouthwatering 3,320% on their investment. Is now a safe time to invest in this biotech?
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Bharat Biotech's COVAXIN is composed of inactivated virions (ineffective viruses outside of host cells). It differentiates itself from other vaccines in its ability to protect against multiple viral antigens. During an interim phase 3 analysis, 78% of patients who received two doses of the vaccine developed immunity against mild, moderate, or severe cases of COVID-19. Additionally, the vaccine protected 100% of patients against severe COVID-19.
Source Fool.com