Will This News Stop Ocugen Shares in Their Tracks?
Ocugen (NASDAQ: OCGN) soared to stock market stardom earlier this year after becoming a coronavirus vaccine stock almost overnight. The company signed a deal with Bharat Biotech to co-commercialize Bharat's near-to-market coronavirus vaccine candidate in the U.S. In recent days, the companies expanded the deal to include Canada as well.
From the start of the year to a peak in February, Ocugen shares rose more than 760%. But in recent weeks, they lost their luster -- at least for some investors. The stock is down about 50% from that peak. And just last week, Ocugen announced news that could remove even more of the luster. Let's take a look what the company said and whether it will put a halt on this once unstoppable stock.
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Source Fool.com