Why Ocugen Stock Is Skyrocketing Today

Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 22.1% higher as of 11:28 a.m. EDT on Tuesday. The big jump came as investors anxiously awaited a meeting today of the World Health Organization's technical advisory committee. This committee is discussing whether or not to grant Emergency Use Listing (EUL) to Bharat Biotech's COVID-19 vaccine Covaxin.

If the World Health Organization grants EUL to Covaxin, it would pave the way for the vaccine to be distributed to countries that participate in the COVAX Facility. That would certainly be good news for Bharat Biotech.

However, Ocugen is partnering with Bharat to commercialize Covaxin only in the U.S. and Canada. The vaccine hasn't received authorizations in either of these markets yet. And EUL for Covaxin won't do anything to help clear the way.

Source Fool.com