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Why Ocugen Stock Is Tanking Today

TheMotleyFool

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Shares of Ocugen (NASDAQ: OCGN) were tanking by 12.7% as of 11:16 a.m. EDT on Friday after falling as much as 20.6% earlier in the day. The big decline came after the company provided its first-quarter update before the market opened today.

Ocugen didn't generate any revenue in the first quarter. The drugmaker posted a net loss of nearly $7.1 million, or $0.04 per share. Only two analysts surveyed by Refinitiv cover the stock. One expected revenue of $156.2 million and earnings of $1.01 per share, while the other analyst projected no revenue and a loss of $0.02 per share.

Image source: Getty Images.

Source Fool.com

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