Is Ocugen (OCGN) Stock a Good Buy After The Recent Positive News

Investors have rightly been excited with many companies which have been working in the highly competitive COVID 19 vaccine space and one of the late entrants to the fray was Ocugen Inc (NASDAQ:OCGN).

Is Ocugen (OCGN) Stock a Good Buy After The Recent Positive News

Last December, the company announced that it had signed an agreement with Indian company Bharat Biotech for distributing the COVID 19 vaccine Covaxin in the United States. Since the stock has gone on a remarkable rally and delivered gains of 3000%.

The stock had hit a peak of $16 a share in the early part of May but since then it has lost around 50% amidst frenetic selling. The vaccine is effective in other strains of the COVID 19 virus as well and last week, Ocugen also presented preclinical data with regards to its neovascular disease treating product OCU 200. However, the COVID 19 vaccine remains the most significant project at the company at this point and since the vaccine may be a later entrant, investors seem to be worrying whether there is going to be enough demand for it.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.