Ocugen Inc (NASDAQ: OCGN) has for years been a biopharmaceutical company that specializes in severe eye diseases, but in 2020 shareholders had to adapt to a change. This was due to the COVID-19 pandemic, which led Ocugen and other companies to change their business models and focus. For instance, Ocugen has worked with its partner Bharat Biotech to develop a coronavirus vaccine candidate called Covaxin.
It is vital to keep in mind that Ocugen is not a vaccine company despite its partner Bharat making progress in the area. It is still committed to developing novel treatments for severe eye diseases. The stock has been on a bumpy ride. In December 2020, the stock traded at $0.3 before rising to its 52-week high of $18.77 in February. It later declined to a low of $5.24.
The stock is capable of big moves, and its next big move could be at any time. Covaxin has shown 78% efficacy against COVID-19 and could be a trigger for Ocugen. In the coming months, Ocugen is a stock to watch.
Finance and Entertainment Reporter
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