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Why Ocugen Stock Is Falling Today

TheMotleyFool

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Shares of Ocugen (NASDAQ: OCGN) were falling 5.1% as of 12:03 p.m. ET on Wednesday. The company hasn't made any announcements this week. Its stock appears to simply be continuing a slide that began in early November.

There are two primary underlying reasons behind Ocugen's steep sell-off over the last two months, with shares plunging more than 70%. Most importantly, the company still hasn't secured an authorization or approval in the U.S. or Canada for COVID-19 vaccine Covaxin. In addition, concerns about the omicron coronavirus variant are lower. That could hurt the commercial prospects for Covaxin if it does secure authorization or approval.

Image source: Getty Images.

Source Fool.com

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