Ocugen (OCGN) Stock May be a Perfect Buy Below $10

The Ocugen (NASDAQ:OCGN) stock got a major boost recently following the positive data that had been released with regards to the coronavirus vaccine Covaxin.

Ocugen (OCGN) Stock May be a Perfect Buy Below $10

The vaccine has been manufactured by the Indian company Bharat Biotech and Ocugen has partnered with the company for distributing it in the United States.

Since the partnership had been announced last December, the Ocugen stock has managed to record considerable gains. After a brief period of correction, the stock restarted its rally after interim results proved to be positive.

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While the results are certainly encouraging, investors need to keep in mind that Ocugen only had the rights to sell the vaccine in one market, the United States. In addition to that, the company will only be able to keep 45% of the profits.

In order to do it at a reasonable scale, Ocugen is going to have to spend on marketing, distribution, and manufacturing.  While the company did raise $100 million, the question about the scale of the potential profits is going to linger.

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.