Why Ocugen Stock Tumbled by Nearly 6% Today
Although it had good news to report, Ocugen (NASDAQ: OCGN) nevertheless saw its stock decline by almost 6% on Monday. That news clearly wasn't good enough for investors, who were likely concerned about the company's lack of specifics.
Ocugen announced that it had secured the rights to commercialize Covaxin, a coronavirus vaccine developed by its India-based partner Bharat Biotech, in Mexico. Ocugen already holds the North American commercial rights to the jab; this has been extended to the big country just south of the U.S.
Image source: Getty Images.
Source Fool.com
