This New Vaccine Market Could Be Bigger for Ocugen Than the U.S.
Ocugen's (NASDAQ: OCGN) shares surged as much as 700% from the start of the year to a peak in February. The reason for the enthusiasm? The company signed a deal to co-commercialize Bharat Biotech's near-to-market coronavirus vaccine in the United States. Currently, Bharat's Covaxin is involved in phase 3 trials in India.
But Ocugen has given up some gains. In fact, its shares are down more than 40% from that February high point. Investors are concerned about how much vaccine Ocugen and Bharat actually may sell in the U.S., which has so many doses it's actually started giving them away.
This past week, though, Ocugen announced an extension of its deal with Bharat. It now may co-commercialize Covaxin in Canada as well. Could this additional market equal a win for Ocugen? Let's find out.
Source Fool.com
