Why Ocugen Stock Is on Fire Today

Shares of the clinical-stage biotech Ocugen (NASDAQ: OCGN) spiked by as much as 22% in premarket trading Tuesday morning. The biotech's stock is moving northward this morning on the news that the COVID-19 vaccine, Covaxin, was granted emergency use approval for children ages 2 to 18 by India's Subject Expert Committee. This vaccine is among the first to receive such a broad emergency use authorization label in the entire world.

Ocugen is partnered with India's Bharat Biotech to commercialize Covaxin in Canada and the United States. The pair are now waiting on word from the World Health Organization on the vaccine's emergency use application. This critical regulatory decision is expected any day now.

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Source Fool.com