Why Was Ocugen (OCGN) stock Underperforming Suddenly This Week?

The Ocugen (NASDAQ:OCGN) stock has emerged as one of the biggest gainers this year from among coronavirus vaccine place owing to its distribution partner for the vaccine Covaxin with Indian company Bharat Biotech.

Why Was Ocugen (OCGN) stock Underperforming Suddenly This Week?

The stock has soared by as much as 200% this year so far but at the same time, it should be noted that there has been a fair degree of volatility in the stock. Moreover, it should be noted that Ocugen is only going to get 45% of all the profits from distributing the product in the United States.

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However, despite the optimism among investors, it is important to remember that it is doubtful whether there is demand for another COVID 19 vaccine in the United States. In addition to that, the product has not been approved yet for emergency use by the United States Food and Drug Administration yet. Hence, it could be argued that the success of the partnership remains a long shot at this point.

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.