Over the past months, many companies have seen their stocks soar on the back of their work regarding the coronavirus vaccine. However, in recent months, a new company has joined the race in the form of Ocugen Inc (NASDAQ: OCGN).
As a matter of fact, the Ocugen stock has outperformed many of the rivals, and this past Friday, it gained another 37% as investors continued to pile on to it. The company is currently in discussions with the United States Food and Drug Administration about an Emergency Use Authorization for its coronavirus vaccine.
In early February, Ocugen had also reached an agreement with Indian company Bharat Biotech to collaborate on the commercialization and development of Covaxxin, the COVID 19 vaccine. The company has seen its stock soar by as big as 350% this year so far and its market cap has also hit $1.56 billion. At the start of the year, Ocugen commanded a market cap of only $350 million.