Ocugen (OCGN) Drops: Here Is Why

When the company joined with India’s Bharat Biotech in order to co-create and co-commercialize Covaxin, which is the vaccine candidate of Bharat, the shares of the company skyrocket by more than 763% in the month and a half. After this peak which was in February, the shares have plunged by 45%. The main worry of the investors is the prospects of Covaxin on the United States Market. With the help of the company, Bharat can commercialize the Vaccine in U.S and Canada as well.

However, during the day, the stock is declining by more than 11%. It might be related to the fact, that the U.S already has many types of vaccines and many countries bought a large amount of Pfizer and Moderna in advance. The second reason might be connected with the new clinical trial that the Ocugen is going to provide itself rather than use the data by Bharat which will take some time to complete.